Cost of goods sold and related items The following data were extracted from the accounting records of Harkins Company for the year ended April 30, 2018: Estimated returns of current year sales $11,600 Inventory, May 1, 2017 380,000 Inventory, April 30, 2018 415,000 Purchases 3,800,000 Purchases returns and allowances 150,000 Purchases discounts 80,000 Sales 5,850,000 Freight in 16,600 Freight in 16,600 a. Prepare the "cost of goods sold" section of the income statement for the year ended April 30, 20Y8, using the periodic inventory system. Harkins Company Income Statement For the Year Ended April 30, 2018 Line Item Description Cost of goods sold: Cost of merchandise purchased: Cost of goods sold Amount Amount 000000 b. Determine the gross profit to be reported on the income statement for the year ended April 30, 2018. c. Would gross profit be different if the perpetual inventory system was used instead of the periodic inventory system