Question 5 of 6 - /20 View Policies Current Attempt in Progress The adjusted trial balance of Novak Wholesale inc. contained the following accounts at December 31, the company's year end: Credit Cash Novak Wholesale INC. Adjusted Trial Balance December 31, 2021 Debit $12,000 Accounts receivable 20,400 Prepaid insurance 2.200 Inventory 103,800 Supplies 6.200 Land 127.200 Buildings 220.900 Accumulated depreciation-buildings Equipment 95.500 Accumulated depreciation-equipment Accounts payable Deferred revenue to search BE 592.800 33,000 60.500 900 1 DOLL SOT b - / 2015 220,900 $92,800 95.500 Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Accounts payable Deferred revenue Refund liability Income tax payable Bank loan payable Common shares Retained earnings Sales Cost of goods sold Administrative expenses Selling expenses Interest expense Interest income Income tax expense 33,000 60,500 9.100 4,840 3.900 98,900 55,000 96,740 1.100,300 806,900 89,300 44,600 12.600 2.600 16.200 $1.557.800 $1,557,680 ANG Te to search DELL Income tax expense 16,200 $1,557,800 $1,557,680 Calculate the profit margin and gross profit margin. (Round all amounts to 1 decimal place, eg. 5.2%) Gross profit margin % Profit margin 96 e Textbook and Media Attempts: 0 of 3 used Submit Answer Save for Later ih ere to search DELL