4. Note: The blanks I want you to fill in are for Goods Available for Sale Ending Inventory Cost of Goods Sold, Gross Margin, and Net Income There is enough information for you to do this problem. Asking me to clarify this problem will result in - 5 on the grading of this problem set. Weighted FIFO LIFO Average Sales revenue (4,000 units) $80,000 $80,000 $80,000 Cost of goods sold: Beginning inventory (1.000 units @ SIO per unit) 10.000 10,000 10,000 Purchases (5.000 units a $12 per unit) 60,000 60,000 60,000 Goods available for sale Ending inventory (2,000 units) Cost of goods sold Gross margin Expenses 20.000 20,000 20,000 Net income (pretax) 5. There is enough information for you to do this problem. Asking me to clarify this problem will result in - 5 on the grading of this problem set. A portion of the income statement for Livestock Judging Company is shown below. Provide the missing account titles and amounts. A $350,000 Sales returns and allowances . S348.000 D. Gross Margin S 90,000 6. Gopher Dairy Club uses the aging approach to estimate bad debt expense. The balance of each account receivable is aged on the basis of three time periods as follows: (1) not yet due, $22.000 (2) up to 120 days past due, $6,500 (3) more than 120 days past due, $2,800. Experience has shown that for each age group, the average loss rate on the amount of the receivables at year-end due to uncollectability is (1) 3%. (2) 14%, and (3) 34%, respectively. At December 31, 2016 (the end of the current year), the Allowance for Doubtful Accounts balance is $1.200 (credit) before the end-of-period adjustment entry is made What amount should be recorded as Bad Debt Expense for the current year? What would the journal entry be? Please show your work for full credit