RE Spicewood Stables, Inc., was established in Dripping Springs, Texas, on April 1. The company provides stables, care for animals, and grounds for riding and showing horses. You have been hired as the new assistant controller. The following transactions for April are provided for your review. a. Received contributions from investors and issued $200,000 of common stock on April 1. b. Acquired a barn for $142,000. On April 2, the company paid half the amount in cash and signed a three-year note payable for the balance c. Provided $16,000 in animal care services for customers on April 3, all on credit. d. Rented stables to customers who cared for their own animals, received cash of $13,000 on April 4 for rent earned this month. e. On April 5, received $1,500 cash from a customer to board her horse in May, June, and July (record as Deferred Revenue) 1. Purchased and received hay and feed supplies on account on April 6 for $3,000 g Paid $1,700 on accounts payable on April 7 for previous purchases h. Received $1,000 from customers on April 8 on accounts receivable. 1. On April 9, prepaid a two-year insurance policy for $3,600 for coverage starting in May. J.On April 28, paid $800 in cash for water and utilities used this month. k. Paid $14,000 in wages on April 29 for work done this month. 1. Received an electric utility bill on April 30 for $1,200 for usage in April the bill will be paid next month. Ronniert Required: 1. Prepare the journal entry for each of the above transactions. 2. Post the transaction activity from requirement to the T-Accounts below. All accounts begin with zero balances because this is the first month of operations. 3. Prepare an unadjusted trial balance as of April 30. 4-a. Refer to the revenues and expenses shown on the unadjusted trial balance. Based on this information, calculate preliminary net income and net profit margin 4-b. Determine whether the net profit margin is better or worse than the 300 percent earned by a close competitor. Answer is not complete. Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Req3 Reg 4 Reg 48 Prepare an unadjusted trial balance as of April 30. Reg 1 Reg 2 Req3 Req 4A Reg 4B Prepare an unadjusted trial balance as of April 30. Credit SPICEWOOD STABLES, INC. Unadjusted Trial Balance At April 30 Debit Cash 71,800 Accounts Receivable Supplies Prepaid Insurance 3,600 Buildings 14.2003 Accounts Payable Deferred Revenue Notes Payable (long-term) Common Stock 3,000 2,500 1,500 7.100 200,000 w 4-b. Determine whether the net profit margin is better or worse than the 30.0 percent earned by a close competitor. Answer is not complete. Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Reg 3 Req 4A Req 4B Refer to the revenues and expenses shown on the unadjusted trial balance. Based on this information, calculate preliminary net income and net profit margin. (Round your Net Profit Margin answer to 1 decimal place.) Preliminary Net Income Net Profit Margin %