prepare statement of owners equity with the above information and a classified balance sheet

calculate the gross profit margin and profit margin round answer to one decimal place.

An alphabetical list of Wildhorses Company adjusted accounts at its fiscal year end, August 31, 2021, follows. All accounts have normal balances. Accounts payable Accumulated depreciation-equipment Accumulated depreciation-furniture Cash Cost of goods sold Depreciation expense Equipment Furniture $15,600 14,000 17,500 29.580 271,900 7,100 35,000 42.000 3,575 2,100 555 Notes payable Prepaid insurance R. Smistad, capital R. Smistad, drawings Rent expense Salaries expense Salaries payable Sales Sales returns and allowances Supplies Supplies expense Unearned revenue $42,000 575 65.750 70,000 25.000 50.800 2.252 472.000 16,300 950 Insurance expense Interest expense Interest payable Merchandise inventory 6,325 2.600 71.050 dditional information: Of the notes payable, $6,100 becomes due on February 17, 2022. The balance is due in 2023. On July 18, 2021, R. Smistad invested $4,200 cash in the business. Prepare a multiple-step income statement. (Enter negative amounts using either a negative sign preceding the number eg.-45 parentheses eg. (45).) WILDHORSE COMPANY Income Statement Prepare a classified balance sheet. (List Current Assets in order of liquidity. List Property, Plant and Equipment in order of Equipment and Furniture) WILDHORSE COMPANY Balance Sheet