Question: 1. Prepare closing journal entries on December 31.
2. Computing Net Profit Margin Refer to the adjusted account balances in M4-20.
Required: 1. Compute net income.
2. Compute net profit margin for H&R Tacks.
3. What does the result of your computation suggest about H&R Tacks?
M4-20: Preparing an Adjusted Trial Balance The following alphabetical listing is the adjusted account balances for H&R Tacks, owned and managed by Jeremy Daily.
