Required:

Prepare the journal entry for each of the above transactions.

Post the transaction activity from requirement $1$ to the T$-$Accounts below. All accounts begin with zero balances because this

is the first month of operations.

Prepare an unadjusted trial balance at the end of February.

$4-$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 $18$ percent earned by a close competitor.