During the current year, merchandise is sold for $67000 cash and for $206000 on account. The cost of merchandise sold is $79000. What is the amount of gross profit? Question 2 Abbey Co. sold merchandise to Gomez Co. on account, $39000, terms 1/15, net 45 . The cost of the merchandise sold is $15000. Abbey Co. issued a credit memo for $4600 for merchandise returned that originally cost $6600. Gomez Co. paid the invoice within the discount period. What is the amount of gross profit earned by Abbey Co. on the above transactions