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Question: the following information applies to the questions displayed below an...

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[The following information applies to the questions displayed below.]

An analysis of transactions made during July by NepCo, an Internet service provider, during its first month of operations is shown below. Increases and decreases affecting revenues and expenses are explained.

Assets

=

Liabilities

+

Stockholders' Equity

Cash Accounts
Receivable
Supplies Equipment Accounts
Payable
Common Stock Retained Earnings
(a) +15,000 +15,000
(b) +1,155 –1,155   Utilities expense
(c) +6,950 +6,950   Service revenue
(d) –6,600 +12,400 +5,800
(e) +1,120 +1,120   Service revenue
(f) +615 +615
(g) –4,350 –4,350
(h) –2,520 –2,520   Wage expense
(i) –1,110 –1,110   Rent expense
(j) +2,085 –2,085
3,625 4,865 615 12,400 3,220 15,000 3,285
Required:
2-a. Prepare an income statement as of July 31.
2-b. Prepare a statement of retained earnings for July, 31.
2-c.

Prepare a classified balance sheet as of July 31, 2013.

3-a.

Calculate the net profit margin, expressed as a percent.(Round your answer to 1 decimal place.)

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