specializes in a selection of gourmet chocolate candies and a line of gourmet ice cream. You have been hired Raylee's Sweets in Collegetown on February 1. The sl manager. Your duties include maintaining the store's financial records. The following transactions occurred in February, the first month of operations. a. Received four shareholders' contributions totaling $29,100 cash to form the corporation; issued 400 sh of $0.10 par value common stock. b. Paid three months' rent for the store at $1,730 per month (recorded as prepaid expenses). c. Purchased and received candy for $5,500 on account, due in 60 days. d. Purchased supplies for $1,430 cash. e. Negotiated and signed a two-year $17,000 loan at the bank, receiving cash at the time. f. Used the money from (e) to purchase a computer for $3,300 (for recordkeeping and inventory tracking used the balance for furniture and fixtures for the store. g. Placed a grand opening advertisement in the local paper for $480 cash; the ad ran in the current mont h. Made sales on Valentine's Day totaling $3,500; $2,665 was in cash and the rest on accounts receivab cost of the candy sold was $1,700. i. Made a $550 payment on accounts payable. j. Incurred and paid employee wages of $1,600. k. Collected accounts receivable of $180 from customers. 1. Made a repair to one of the display cases for $140 cash. m Made cach cales of $2600 during the rest of the month The cost of the candy cold was $1410 Check my work m. Mace casn sales of $4,buu auning the rest or the month. ine cost or the candy soid was 31, 5. After three years in business, you are being evaluated for a promotion. One measure is how effectively you managed the sales and expenses of the business. The following data are available: 2021 2020 Total assets $86,000 $47,000 2019 $41,500 Total liabilities 49,500 22,500 12,000 Total stockholders' equity 36,500 24,500 29,500 Net sales revenue 92,000 87,000 Net income 21,600 10,300 50,500 4,700 "At the end of 2021, Kaylee decided to open a second store, requiring loans and inventory purchases prior to the store's opening in early 2022. 5-a. Compute the net profit margin ratio for each year. (Round your answers to 1 decimal place.) Net Profit Margin Ratio 2021 % 2020 % 2019 % 5-b. Do you think you should be promoted? Yes No