1. Calculate the sales revenue, net sales, and gross profit given the following information.

2. Compute the gross profit percentage and round answer to 1 decimal place.

[The following information applies to the questions displayed below. Hair World Inc. is a wholesaler of hair supplies. Hair World uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: $55,200 b. Received merchandise returned by customers as unsatisfactory (but in perfect 650 condition), for cash refund (original cost of merchandise $390). c. Sold merchandise (costing $5,225) to a customer, on account with terms 2/10, n/30. 11,000 d. Collected half of the balance owed by the customer in within the discount period. 5,390 e. Granted a partial allowance relating to credit sales that the customer in (C had not yet 176 paid