NEED ASAP !!

dastery Problemi Accounting for Retail Businesses Merchandising Transactions You are working as a summer war tor AMA Auditing, Inc. You have been asked to help resolve discrepancies noted in the di for Dolfin Corporation, a retailer of specialtyquarium supplies As a rutal company, Dorn Corporation uses the perpetual inventory wytem. To prepare to the assignment, you have been asked to review your bowledge of sales and purchase transactions by completing the following tabi Consider the effect of each section on the three accounts listed an entry which accounts are debited or credited. If not affected by the transaction, select "No Effect", Inventory Estimated Returns Inventory Cost of Goods Sold Purchase of merchandise for reste Debit Cash sale of merchandise Debit Customer returns No Effect Yearly estimate for customer returns No Effect Preht sold for merchandise purchased Fosshing point Return of merchandise purchased for resale Freight ad for sales with os destination No Effect Sale on account No Effect Customer rent on account Credit Payment of service fee for processing credit card sales Debis Credit Credit Income Statement The accountry for both Corporation prepared the following income statement. The auditor has asked you to use this statement to provide stational information to Dalin Corporation on the Final questions Delfin Corporation Income Statement For the Year Ended December 31, 2018 Sales $320,140 Expenses Cost of goods sold 21,171 41,709 Annistrative perses 35.292 Interest expense Total extended (295,447) Net income $25,393 Final Questions The suditor has asked you to prepare additional information about Dorin Corporation's results for int your use the data shown on the income statement in your compuestos 1. Compute the operating expers for Dolli Corporation 2. Compute the grous profit for Do Corporation 77.276 3.Camute the contingene for Dolfin Corporation