Question: This assignment is based on T extbook Exercise- M3 -21 (Equilibrium Riding, Inc.) p. 131. Based on the information provided, you are required to :

This assignment is based on Textbook Exercise- M3 -21 (Equilibrium Riding, Inc.) p. 131.

Based on the information provided, you are required to :

  1. Prepare an Income Statement for the year ending December 31;
  2. Calculate the Net Profit Margin; and
  3. Briefly explain what the profit margin means

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