Cha Company buys merchandise on account from Wirtz Company. The selling price of the goods is $780, and the cost of the goods is $470. Both companies use perpetual inventory systems Journalize the transaction on the books of both companies. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Account Titles and Explanation Cha Company (To record credit purchase of inventory) Wirt Company (To record credit sake) Assume Kupfer Company has the following reported amounts: Sales revenue $510,000, Sales returns and allowances $15,000, Cost of goods sold $90,000, and Operating expenses $90,000 (a) Compute net sales. Net sales (b) Compute gross profit. Gross profit (c) Compute income from operations. Income from operations, (d) Compute the gross profit rate. (Round answer to 1 decimal place, e.g. 25.29.) Gross profit rate