Hequired: a. Prepare journal entries to record these fransactions and events in the accounting records of Claypool Hardware (The compary uses a perpetual inventory system] b. Prepare a partial income statement showing the company's gross profit for the year: (Net sales for the year amount to $1,024,900 ) c. Claypoof purchases merchandise inventory at the same wholesale prices as other hardware stores. Due to its remote location, however, the compary must pay between $18,000 and $20,000 per year in extra traneportation charges to tecehe delivery of merchandise. (These additional charges are included in the amount shown as cost of goods sold) d. Does the business appear to suffer or benefit financially from its remote location? Complete this question by entering your answers in the tobs below. Claypool purchases merchandise inventory at the same wholesale prices as other hardware stores, Due to its remote location, however, the company must pay between $18,000 and $20,000 per year in extra transportation chargen to recelve delivery of merchandise. (These additional charges are included in the amount shown as cost of goods sold.) Hequired: a. Prepare journal entries to record these fransactions and events in the accounting records of Claypool Hardware (The compary uses a perpetual inventory system] b. Prepare a partial income statement showing the company's gross profit for the year: (Net sales for the year amount to $1,024,900 ) c. Claypoof purchases merchandise inventory at the same wholesale prices as other hardware stores. Due to its remote location, however, the compary must pay between $18,000 and $20,000 per year in extra traneportation charges to tecehe delivery of merchandise. (These additional charges are included in the amount shown as cost of goods sold) d. Does the business appear to suffer or benefit financially from its remote location? Complete this question by entering your answers in the tobs below. Claypool purchases merchandise inventory at the same wholesale prices as other hardware stores, Due to its remote location, however, the company must pay between $18,000 and $20,000 per year in extra transportation chargen to recelve delivery of merchandise. (These additional charges are included in the amount shown as cost of goods sold.)