Rowland & Sons Air Transport Service, Incorporated, has been in operation for three years. The following transactions occurred in February: February 1 Paid $300 for rent of hangar space in February. February 4 February 7 February 10 February 14 Received customer payment of $1,500 to ship several items to Philadelphia next month. Flew cargo from Denver to Dallas; the customer paid in full ($940 cash). Incurred and paid $2,600 in pilot wages for flying in February. Paid $192 for an advertisement run in the local paper on February 14. February 18 Flew cargo for two customers from Dallas to Albuquerque for $2,505%; one customer paid $795 cash and the other asked to be billed $1,710. February 25 Purchased on account $1,730 in supplies for future use on the planes. Required: 1. Prepare accrual basis journal entries for each transaction. 2. Calculate the company's preliminary net income. 3. Calculate the company's net profit margin expressed as a percent. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Calculate the company's net profit margin expressed as a percent. (Round your answer to 1 decimal place.) Net Profit Margin %