1) Akinribade Company has net sales of $766,600 and cost of goods sold of $553,600. Its net income is $21,030. The Akinribade Company's gross margin and operating expenses, respectively, are:

2) iBison Company purchased $3,100 worth of merchandise. Transportation costs for the buyer were an additional $270. The IBison returned $215 worth of merchandise and then paid the invoice within the 1% cash discount period. The total cost of this merchandise is:

$745,100 and $191,970 $234,500 and $532,570 $532,570 and $234,500 $213,000 and $191,970 $213,000 and $234,500 $2,956.00 $3,124.00. $3,045.00. $3,155.00. $3,126.15