Part 2 QS 5-1 Components of income for a merchandiser L01 Referring to the format presented in Exhibit 5.2, calculate gross profit and the profit or loss for each of the following C D Net sales Cost of goods sold Operating per $14,000 $102.000 8,000 64.000 4000 31.000 568,000 $540,000 21.000 220.000 22.000 261,000 199.000 215.000 106.000 QS 5-6 Merchandise purchase transactions perpetual LO3 Journalize each of the following transactions assuming a perpetual inventory system May 1Purchased $1,200 of merchandise inventory: terms 1/10, 1/30 14 Paid for the May 1 purchase 15 Archased $3.000 of merchandise inventory: 2/16, 1/30 20 Paid for the May 15 purchase.loss the applicable discount Click here for a description of Lis: OS 5-6. QS 5-7Merchandise purchase: allowance-perpetual LO3 Joumalize each of the following transactions assuming a perpetual inventory system Aug. 2 Purchased $14,000 of merchandise inventory: terms 1/5, IV 15. 4 Received a credit momo from the supplier confirming a $1,500 allowance regarding the August 2 purchase. 17 Paid for the August 2 purchase, less the allowance Click here for a description of List: QS 5-7. QS 5-8Merchandise purchase: trade discount, return--perpetual LO3 Prepare journal entries to record each of the following transactions of a merchandising company. Show any supporting calculations. Assume a perpetual inventory system 5 Purchased 500 unts of product with a list price of $5 per unit. The purchaser was granted a trade discount or 20% and the terms of the sale were 2/10, 100 7 Rotumod 50 defective units from the March 5 purchase and reconod full credit 15 Paid the amount o rosulting from the March 5 purchase, loss the return on March 7 and appecable discount 32