O Required information PA6-3 (Algo) Recording Sales with Discounts and Estimated and Actual Returns, and Analyzing Gross Profit Percentage [LO 6-4, LO 6-5) [The following information applies to the questions displayed below.) Kelly Creations is a wholesaler of hair supplies. Kelly Creations uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: a. Sold merchandise for canh cost of merchandise $30,237). $ 53,760 b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $260). 290 c. Sold merchandise (costing $5,890) to a customer on account with terms n/60. 12,400 d. Collected half of the balance owed by the customer in (o). 6,200 e. Granted a partial allowance relating to credit sales the customer in (c) had not yet paid. 168 f. Anticipate further return of merchandise (costing $180) after year-end from sales made during the year. 300 PA6-3 (Algo) Part 1 Required: 1. Compute Net Sales and Gross Profit for Kelly Creations. Net Sales Gross Profit