1.Using the following information calculate (a) net sales, (b) beginning merchandise inventory, (c) gross margin, and (d) net income. (show all calculations). Sales Salaries Expense $ 7,000 Sales 90,000 Ending Merchandise Inventory 16,000 Purchases Returns and Allowance 500 General and Administrative Expenses 11,000 Sales Returns and Allowances 1,200 Freight In 1,500 Purchases 30,000 Cost of Goods Sold 47,000