Information pertaining to Spicy Nachos Rest adjusted accounts for the year ended June 30, 2015, is as follows: Sales 690,000 Inventory (July 1, 2014) 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 are the adjustment for ending inventory (assume a periodic inventory system) and income tax. Inventory on June 30, 2015, as per physical count was valued amounting $ 30,800. Please compute: a) Gross Profit b) Net Income before income tax (Hint: Refer to two-step income statement format and Cost of Goods Sold computation)