The following transactions are February activities of Swing Hard Incorporated, which offers golfing lessons in the northeastern United States.

Swing Hard collected $21,000 from customers for lesson services provided in February.

Swing Hard sold a gift card for golf lessons for $140 cash in February.

Swing Hard received $4,700 from credit sales made to customers in January.

Swing Hard collected $4,200 in advance payments for golf lessons to start in June.

Swing Hard billed a customer $170 for services provided between February 25 and February 28. The bill is to be paid in March.

Swing Hard paid $5,400 for wages to its golf instructors for the month of February.

Swing Hard paid $2,000 for electricity used in the month of January.

Swing Hard received an electricity bill for $1,240 for the month of February, to be paid in March.

Required:

Prepare an income statement for Swing Hard Incorporated for the month ended February 28. (This income statement would be considered preliminary because it uses unadjusted balances.)

What is the companys net profit margin, expressed as a percent?

M3-20 (Algo) Preparing an Income Statement and Calculating Net Profit Margin [LO 3-1, LO 3-5] The following transactions are February activities of Swing Hard Incorporated, which offers golfing lessons in the northeastern United States. a. Swing Hard collected $21,000 from customers for lesson services provided in February. b. Swing Hard sold a gift card for golf lessons for $140 cash in February. c. Swing Hard received $4,700 from credit sales made to customers in January. d. Swing Hard collected $4,200 in advance payments for golf lessons to start in June. e. Swing Hard billed a customer $170 for services provided between February 25 and February 28 . The bill is to be paid in March. f. Swing Hard paid $5,400 for wages to its golf instructors for the month of February. g. Swing Hard paid $2,000 for electricity used in the month of January. h. Swing Hard received an electricity bill for $1,240 for the month of February, to be paid in March. Required: 1. Prepare an income statement for Swing Hard Incorporated for the month ended February 28. (This income statement would be considered "preliminary" because it us unadjusted balances.) 2. What is the company's net profit margin, expressed as a percent? Complete this question by entering your answers in the tabs below. Prepare an income statement for Swing Hard Incorporated for the month ended February 28. (This income statement would be considered "preliminary" because it uses unadjusted balances.) M3-20 (Algo) Preparing an Income Statement and Calculating Net Profit Margin [LO 3-1, LO 3-5] The following transactions are February activities of Swing Hard Incorporated, which offers golfing lessons in the northeastern United States. a. Swing Hard collected $21,000 from customers for lesson services provided in February. b. Swing Hard sold a gift card for golf lessons for $140 cash in February. c. Swing Hard received $4,700 from credit sales made to customers in January. d. Swing Hard collected $4,200 in advance payments for golf lessons to start in June. e. Swing Hard billed a customer $170 for services provided between February 25 and February 28 . The bill is to be paid in March. f. Swing Hard paid $5,400 for wages to its golf instructors for the month of February. g. Swing Hard paid $2,000 for electricity used in the month of January. h. Swing Hard received an electricity bill for $1,240 for the month of February, to be paid in March. Required: 1. Prepare an income statement for Swing Hard Incorporated for the month ended February 28 . (This income statement would be considered "preliminary" because it use unadjusted balances.) 2. What is the company's net profit margin, expressed as a percent? Complete this question by entering your answers in the tabs below. What is the company's net profit margin, expressed as a percent? (Round your answer to 1 decimal place.)