23 Required information (The following information applies to the questions displayed below.) Part 2 of 2 Darlington Company entered into the following business events during its first month of operations. The company uses the perpetual inventory system. 8 02:18:01 Print 1) The company purchased $12,400 of merchandise on account under terms 2/10, n/30. 2) The company returned $1,900 of merchandise to the supplier before payment was made. 3) The liability was paid within the discount period. 4) All of the merchandise purchased was sold for $18,800 cash. Required information 23 What is the gross margin that results from these four transactions? Part 2 of 2 Multiple Choice 8 02:17:58 O $6,272 Print $8,548 O $8,510 $6,400 34 Ballard Company uses the perpetual inventory system. The company purchased $8,700 of merchandise from Andes Company under the terms 4/10, net/30. Ballard paid for the merchandise within 10 days and also paid $320 freight to obtain the goods under terms FOB shipping point. All of the merchandise purchased was sold for $16,400 cash. What is the amount of gross margin that resulted from these business events? 8 02:17:50 Print Multiple Choice $8,700 $7,380 $7,700 $7,728