III. Information pertaining to Spicy Nachos Rest adjusted accounts for the year ended June 30, 2018, is as follows: Sales 690,000 Inventory (July 1, 2017) 43,200 Purchases 562,000 Freight-in 23,500 Purchases returns 9,000 General and Administrative Expenses 86,000 The only adjustments not included in the above information is the adjustment for ending inventory (assume a periodic inventory system) Inventory on June 30, 2018, as per physical count was valued amounting $ 30,800. Please compute: a) Gross Profit b) Net Income before income tax