29. Given the following balances from selected accounts in the ledger of Kingwood Supplier. Cash $25,000 Purchases returns Freight-out 3,400 Selling expenses Administration expenses 9,685 Sales returns Purchases 65.900 Beginning inventory Accounts payable 11,400 Purchases allowance Freight-in 975 Dividend received from investments Donation to disabled society, 20,000 Closing inventory Determine the following: Cost of sales... Gross operating profit % Net operating profit Net profit 10 points $8,750 11,346 2.600 13,900 1,300 22,000 9,100 29. Given the following balances from selected accounts in the ledger of Kingwood Supplier. Cash $25,000 Purchases returns Freight-out 3,400 Selling expenses Administration expenses 9,685 Sales returns Purchases 65.900 Beginning inventory Accounts payable 11,400 Purchases allowance Freight-in 975 Dividend received from investments Donation to disabled society, 20,000 Closing inventory Determine the following: Cost of sales... Gross operating profit % Net operating profit Net profit 10 points $8,750 11,346 2.600 13,900 1,300 22,000 9,100