3 Required information The following information applies to the questions displayed below.) The transactions listed below are typical of those involving Southern Sporting Goods (SSG) and Sports R Us (SRU) SSG is a wholesale merchandiser and SRU is a retall merchandiser. Assume all sales of merchandise from SSG to SRU are made with terms n/30, and the two companies use perpetual inventory systems. Assume the following transactions between the two companies occurred in the order listed during the year ended December 31 art 2 of 2 nus 2. SSG sold merchandise to SRU at a selling price of $155,000. The merchandise had cost SSG $106,000. b. Two days later, SRU complained to SSG that some of the merchandise differed from what SRU had ordered. SSG agreed to give an allowance of $6,000 to SRU. SRU also returned some sporting goods, which had cost SSG $15,000 and had been sold to SRU for $19,500. c. Just three days later SRU paid SSG, which settled all amounts owed. eBook 2. Prepare the Journal entries SSG would record. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Print ferences View transaction that X 1 Record the sales on account of $155,000 to SRU. 2 Record the cost of goods sold of $106,000. Record the return of unsatisfactory merchandise by SRU for which credit was given to the customer. 4 Record the cost of goods sold to inventory. bit Credit 5 Record the receipt of payment full from SRU. 4 Sunshine Group, the Italian company that sells Ray Ban and Oakley sunglasses, reported net sales of 6.4 billion in 2014 and 74 billion in 2015. Gross profit increased to 3.7 billion in 2015 from 3 billion in 2014 1. Calculate the gross profit percentage for each year. (Round your answers to 1 decimal place.) points 2014 2015 Gross Profit % cBook PH 2. Was the increase in gross profit caused by References O an increase in gross profit per sale. O an increase in sales volume. an increase in gross profit per sale and an increase in sales volume