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

Feb. 1

Paid $395 for rent of hangar space in February.

Feb. 4

Received customer payment of $1,680 to ship several items to Philadelphia next month.

Feb. 7

Flew cargo from Denver to Dallas; the customer paid in full ($1,030 cash).

Feb. 10

Paid pilots $1,250 in wages for flying in February.

Feb. 14

Paid $102 for an advertisement run in the local paper on February 14.

Feb. 18

Flew cargo for two customers from Dallas to Albuquerque for $2,865; one customer paid $845 cash and the other asked to be billed $2,020.

Feb. 25

Purchased on account $1,795 in supplies for future use on the planes.

2.

Calculate the companys preliminary net income

3.	Calculate the companys net profit margin expressed as a percent. (Round your answer to 1 decimal place.)