Ballard Company uses the perpetual inventory system. The company purchased $8,200 of merchandise from Andes Company under the terms 2/10, net/30. Ballard paid for the merchandise within 10 days and also paid $270 freight to obtain the goods under terms FOB shipping point. All of the merchandise purchased was sold for $15,400 cash. What is the gross margin that resulted from these transactions? Multiple Choice $7,200 $6,930 $7,094 $0.200