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answer all three please Required information (The following information applies to the questions displayed below.) Sanchez Company engaged in the following transactions during Year 1:
answer all three please Required information (The following information applies to the questions displayed below.) Sanchez Company engaged in the following transactions during Year 1: 1) Started the business by issuing $12,900 of common stock for cash. 2) The company paid cash to purchase $7,800 of Inventory. 3) The company sold inventory that cost $5,200 for $10,650 cash. 4) Operating expenses incurred and paid during the year, $4,700. Sanchez Company engaged in the following transactions during Year 2: 1) The company paid cash to purchase $11,200 of inventory 2) The company sold Inventory that cost $9,400 for $17,250 cash. 3) Operating expenses incurred and paid during the year, $5,700. Note: Sanchez uses the perpetual inventory system. What is Sanchez's gross margin for Year 2? Multiple Choice $2150 O $7850 $6,050 $9.400 What is the amount of inventory that will be shown on the balance sheet at December 31, Year 2? Multiple Choice $9,600 54,400 O $1.00 $20.400 What is the amount of retained earnings that will be shown on the balance sheet at December 31, Year 2? Multiple Choice $12.500 $2.900 o $2150 57700
answer all three please
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