Penny's Pool Service \& Supply, Incorporated (PPSS), had the following transactions related to operating the business in its first year's buslest quarter ended September 30 : a. Placed and paid for $2,550 in advertisements with several area newspapers (including the online versions), all of which ran in the newspapers during the quarter. b. Cleaned pools for customers for $14,200, recelving $10,900 in cash with the rest owed by customers who will pay when billed in October. c. Paid Pool Corporation, Incorporated, a pool supply wholesaler, \$14,500 for inventory recelved by PPSS in May. d. As an Incentive to maintain customer loyalty, PPSS offered customers a discount for prepaying next year's pool cleaning service. PPSS recelved $13,900 from customers who took advantage of the discount. e. Pald the office receptlonist $5,500, with $1,650 owed from work in the prior quarter and the rest from work in the current quarter. Last quarter's amount was recorded as an expense and a liability, Wages Payable. f. Had the company van repalred, paylng $160 to the mechanic. g. Paid $160 for phone, water, and electric utllitles used during the quarter. h. Recelved $150 cash in Interest eamed during the current quarter on short-term Investments. 1. Recelved a property tax bill for $320 for use of the land and bullding in the quarter, the bill will be pald next quarter. J. Paid \$1,280 for the next quarter's Insurance coverage. Required: 1. Prepare journal entries for above transactions. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. 2. Based only on these quarterly transactions, prepare a classified income statement (With income from operations determined separately from other Items) for the quarter ended September 30. 3. Calculate the net profit margin ratio at September 30 . Note: Enter your percentage answer with 1 decimal place (Le., 321). Complete this question by entering your answers in the tabs below. Based only on these quarterly transactions, prepare a classified income statement (with income from operations determined separately from other items) for the quarter ended September 30 . Penny's Pool Service \& Supply, Incorporated (PPSS), had the following transactions related to operating the business in its first year's buslest quarter ended September 30 : a. Placed and paid for $2,550 in advertisements with several area newspapers (including the online versions), all of which ran in the newspapers during the quarter. b. Cleaned pools for customers for $14,200, recelving $10,900 in cash with the rest owed by customers who will pay when billed in October. c. Paid Pool Corporation, Incorporated, a pool supply wholesaler, \$14,500 for inventory recelved by PPSS in May. d. As an Incentive to maintain customer loyalty, PPSS offered customers a discount for prepaying next year's pool cleaning service. PPSS recelved $13,900 from customers who took advantage of the discount. e. Pald the office receptlonist $5,500, with $1,650 owed from work in the prior quarter and the rest from work in the current quarter. Last quarter's amount was recorded as an expense and a liability, Wages Payable. f. Had the company van repalred, paylng $160 to the mechanic. g. Paid $160 for phone, water, and electric utllitles used during the quarter. h. Recelved $150 cash in Interest eamed during the current quarter on short-term Investments. 1. Recelved a property tax bill for $320 for use of the land and bullding in the quarter, the bill will be pald next quarter. J. Paid \$1,280 for the next quarter's Insurance coverage. Required: 1. Prepare journal entries for above transactions. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. 2. Based only on these quarterly transactions, prepare a classified income statement (With income from operations determined separately from other Items) for the quarter ended September 30. 3. Calculate the net profit margin ratio at September 30 . Note: Enter your percentage answer with 1 decimal place (Le., 321). Complete this question by entering your answers in the tabs below. Based only on these quarterly transactions, prepare a classified income statement (with income from operations determined separately from other items) for the quarter ended September 30