Hawk Company establishes a $350 petty cash fund on September 9. The journal entry to establish the fund is Dr petty cash expense account and Cr petty cash account, 350 Dr petty cash account and Cr cash account; 350 Dr petty cash account and Cr petty cash expense account; 350 Dr cash account and Cr petty cash account; 350 XYZ company provided the following information: Sales Accounts payable $43,500 5,500 10,000 Selling expenses Administrative expenses Other revenues Cost of goods sold Cash Other expenses 3,000 7,000 30,000 4,000 12,000 Required: Calculate the following: (SHOW YOUR CALCULATIONS) 1. Gross profit 2. Net income/ loss (note: specify whether the company had net income or net loss) For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BIUS Paragraph: Arial 10pt < > A