Question 4 of 20 -/36 E An alphabetical list of Cullumbers Company adjusted accounts at its focal year end, August 31, 2021, follows. All accounts have normal balances $15 540 542.000 14,000 575 Accounts payable Accumulated depreciation-equipment Accumulated depreciation-furniture Cash 17.500 05.750 77000 19.810 272.300 Notes payable Prepaid insurance R Smistad, capital R. Smistad, drawings Rent expense Salaries expense Salaries able Sales 24200 Cost of goods sold Depreciation expense Equipment 7060 35.000 50.400 2.250 48.000 Furniture 42.000 15 300 Sales returns and wances 3.575 Insurance expense 950 2.180 Interest expense 6.325 585 Supplies expense Unearned revenue Interest payable Merchandise inventory 2.600 70.550 COD00 Cost of goods sold - 36 272,300 Rent experise Depreciation expense 24.200 7060 Salaries expense Equipment 50.400 35.000 Salaries payable 2.250 Furniture Insurance expense 42.000 Sales 468,000 3.575 Sales returns and allowances 16,300 Interest expense 2.180 950 Supplies Supplies expense 585 6,325 Interest payable Merchandise inventory 70.550 Unearned revenue 2.600 Additional information 1. Of the notes payable, $6,200 becomes due on February 17, 2022. The balance is due in 2023 2. On July 18, 2021. R. Smistad invested $4,300 cash in the business Prepare a multiple-step income statement (Enter negative amounts using either a negative sign preceding the numbers or parentheses es. (451 -/36 CULLUMBER COMPANY Statement of Owner's Equity For the Year Ended August 31, 2021 $ $ Equipment in order of Equipment and CULLUMBER COMPANY Balance Sheet Assets -/36 Question Part Score -/14 Calculate the gross profit margin and profit margin (Round answers to 1 decimal placres 52.7%) Gross profit margin I Profit margin X e Textbook and Media Question Part Score Attempts:0 of 1 used Submit A Sofort Last saved 30 minutes ago Saved work will be auto submitted on the due date Auto Submission can take up to 10 minutes POGOD