A buyer of $9,000 in merchandise inventory failed to take advantage of the vendor's credit terms of 2/15, n/45, and instead paid the invoice in full at the end of 45 days. By not taking advantage of the cash discount, the buyer lost the discount of:

Multiple Choice

$900.

$100.

$90.

$180.

$1,350.

A company has net sales of $888,000 and cost of goods sold of $589,000. Its net income is $106,200. The company's gross profit and operating expenses, respectively, are:

Multiple Choice

$299,000 and $397,600

$299,000 and $192,800

$299,000 and $106,200

$192,800 and $106,200

$695,200 and $192,800