Ko Supply Corporations adjusted trial balance at February 28, 2021 reflects the following:

Sales Revenue 1,600,100

Sales Discounts 12,000

Rent Expense 24,0000

Retained Earnings (February 1, 2021) 21,000

Bad Debt Expense 14,500

Depreciation Expense 8,000

Cost of Goods Sold 301,500

Equipment 183,000

Common Stock 10,000

Income Tax Expense 12,500

Office Supplies Expense 14,200

Accounts Payable 42,100

Accounts Receivable 218,000

Accumulated Depreciation - Equipment 65,500

Cash 63,000

Inventory 21,500

Salaries Expense 253,000

Dividends ?

Instructions

Assuming normal balances for each of the accounts, calculate the following (and show all your work):

1. Net sales

2. Gross profit

3. Gross profit percentage

4. Net income

5. Dividends