The following is the adjusted trial balance data for Emma's Alterations as of December 31, 2019. Emma's Alterations Adjusted Trial Balance Year Ended December 31, 2019 Debit Credit Cash $603,538 Accounts Receivable 51,689 199,430 Equipment Merchandise Inventory 172,744 Accounts Payable $237,893 Common Stock 502,200 Sales 400,993 Interest Revenue 100,976 Rent Revenue 65,500 28,250 Sales Salaries Expense Office Supplies Expense 5,903 Sales Discounts 61,347 Interest Expense 3,570 Sales Returns and Allowances 55,432 Cost of Goods Sold 91,300 Sales Salaries Expense 28,250 Office Supplies Expense 5,903 Sales Discounts 61,347 Interest Expense 3,570 Sales Returns and Allowances 55,432 Cost of Goods Sold 91,300 Rent Expense 10,500 Depreciation Expense-Office Equipment 8,560 Insurance Expense 3,421 Advertising Expense 11,878 Totals $1,307,562 $1,307,562 A. Use the data provided to compute net sales for 2019. 284,214 B. Compute the gross margin for 2019. 192,914 C. Compute the gross profit margin ratio (rounded to nearest hundredth). 0.68 Check My Work Emma's Alterations Simple Income Statement For Year Ended December 31, 2019 Revenues: Net Sales 284,214 Rent Revenue 65,500 Interest Revenue 100,976 Total Revenues 450,690 Expenses: Cost of Goods Sold 91,300 Total Selling Expenses Total General and Administrative Expenses 280,161 x 1,307,562 X Interest Expense 3,570 Total Expenses II Feedback Emma's Alterations Multi-step Income Statement For Year Ended December 31, 2019 DOOD Operating Expenses Selling Expenses Total Selling Expenses General and Administrative Expenses Total General and Administrative Exnenses Total Selling Expenses General and Administrative Expenses Total General and Administrative Expenses $ Total Operating Expenses Income from Operations Other Revenue and Expenses Total Other Revenue and Expenses = Feedback Check My Work