Hair World Incorporated is a wholesaler of hair supplies. Hair World uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: a. Sold merchandise for cash (cost of merchandise $35,277 ), b. Received merchandise returned by custoners as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $490). c. Sold merchandise (costing $9,880 ) to a custoner on account with terns pi//60. d. Collected half of the balance owed by the customer in (c). e. Granted a partial allowance relating to credit sales the customer in (c) had not yet paid. f. Anticipate further returns of merchandise (costing $320) after year-end froe sales madel during the year. 4. Hair World is considering a

Hair World Incorporated is a wholesaler of hair supplies. Hair World uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: a. Sold merchandise for cash (cost of merchandise $35,277 ). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for $62,720 cash refund (original cost of merchandise $400 ). c. Sold merchandise (costing $9,880 ) to a customer on account with terms n/60. d. Collected half of the balance owed by the customer in (c). e. Granted a partal allowance relating to credit sales the customer in (c) had not yet paid. f. Anticipate further returns of merchandise (costing \$320) after year-end from sales madelduring the year the year. 4. Hair World is considering a contract to sell merchandise to a hair salon chain for $51,000. This merchandise will cost Hair World $33,400. What would be the increase (or decrease) to Hair World's gross profit and gross profit percentage? (Round "Gross Profi