Calculator Print Item Cost of Merchandise Sold and Related Items The following data were extracted from the accounting records of Harkins Company for the year ended April 30, 2019: Increase in estimated returns inventory $10.300 Merchandise inventory, May 1, 2018 411,400 Merchandise inventory, April 30, 2019 514,200 Purchases 3,342,600 Purchases returns and allowances 102.800 Purchases discounts 61,700 Sales 5,142,400 Freight in 15.400 a. Prepare the cost of merchandise sold section of the income statement for the year ended April 30, 2019, using the periodic inventory system Harkins Company Income Statement For the Year Ended April 30, 2019 Cost of merchandise sold: Cost of merchandise purchased Net purchases Check My Work oBook Calculaton PUrcamseS recamts aicowances Print Iten Purchases discounts 61.700 Sales 5.142.400 Freight in 15,400 a. Prepare the cost of merchandise sold sectlon of the income statement for the year ended April 30, 2019, using the periodic ieventory system. Harkins Company Income Statement For the Year Ended April 30, 2019 Cost of marchandise sold Cost of merchandise purchased: Net purchases Cost of merchandise sold b. Determine the gross profit to be reported on the income statement for the year ended April 30, 2019. used instead of the periodic inventory system? al c. Would gross profit be different if the perp ntory system wa Tim Check My Work