Rowland & Sons Air Transport Service, Inc. has been in operation for three years. The following transactions occurred in February:

Feb. 1	Paid $410 for rent of hangar space in February.
Feb. 4	Received customer payment of $1,740 to ship several items to Philadelphia next month.
Feb. 7	Flew cargo from Denver to Dallas; the customer paid in full ($1,230 cash).
Feb. 10	Paid pilots $3,000 in wages for flying in February.
Feb. 14	Paid $128 for an advertisement run in the local paper on February 14.
Feb. 18	Flew cargo for two customers from Dallas to Albuquerque for $2,820; one customer paid $660 cash and the other asked to be billed $2,160.
Feb. 25	Purchased on account $1,510 in supplies for future use on the planes.

Required:
1.	Prepare accrual basis journal entries for each transaction. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Calculate the companys preliminary net income Calculate the companys net profit margin expressed as a percent. (Round your answer to 1 decimal place.)