please show calculations

6) Quart Inc. (QI) uses a perpetual inventory system and has the following account balances as at December 31 , 2023 before any year end adjusting entries: Inventory $15,000 Cost of Goods Sold $82,000 Sales Revenue $140,000 QI determines that the net realizable value of the December 31,2023 ending inventory is $13,750. Required (7 marks): Prepare any adjusting journal entries required at year end and calculate the gross profit that QI will report on their income statement for the year. 6) Quart Inc. (QI) uses a perpetual inventory system and has the following account balances as at December 31 , 2023 before any year end adjusting entries: Inventory $15,000 Cost of Goods Sold $82,000 Sales Revenue $140,000 QI determines that the net realizable value of the December 31,2023 ending inventory is $13,750. Required (7 marks): Prepare any adjusting journal entries required at year end and calculate the gross profit that QI will report on their income statement for the year