Question: i need the profit margin error. i keep getting wrong Calculate the profit margin and the gross profit rate. (Round answers to 1 decimal ploce,





Calculate the profit margin and the gross profit rate. (Round answers to 1 decimal ploce, eg. 15.2\%) Profit margin Gross profit rate % \% eTextbook and Media List of Accounts Last saved 1 second ago. Saved work will be auto-submitted on the due date. Autosubmission can take up to 10 minutes. Sunlands Hardware Store completed the following merchandising transactions in the month of May. At the beginning of May. Sunlands' ledger showed Cash of \$8,900 and Common \$tock of $8,900. May 1 Purchased merchandise on account from Biack Wholesale Supply for $8,900, terms 1/10,n/30. 2 Sold merchandise on account for $5,300, terms 2/10,n/30. The cost of the merchandise sold was $4,200. 5 Received credit from Biack. Wholesale Supply for merchandise tefurned $200. 9. Received collections in full less discounts, from customers billed on May 2 10. Paid Biack Wholesale Supply in full, less discount. 11 Purchased supplies for cash $900 12. Purchased merchandise for cash $3,900 15 Recelved $230 retund for return of poor-quality merchandise from supplier on cash purchase. 17 Purchased merchandise on account from Witheim Distributors for $3,300, terms 2/10,n/30. 19 Paidfreight on May, 17 purchase $250. 24 Sold merchandise for cash $5,500. The cost of the merchandise sold was $4,100. 25 Purchased merchandise on sccount from Clasps inc, for $800, terms 3/10,n/30. 27. Paid Whelm Datributors in full, less discount. 29 Made refunds to cash customers for returned merchandise $108. The returned merchandise had cost $94. 315 Sold merchandise on account for $1.280, terms n/30. The cost of the merchandise sold was $838. Prepare a retained earnings statement. (List items that increase retained earnings first) 3600 9000 $ 127200
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