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6.43 Calculating revenue Joe Phum operates a wholesale clothing operation called Phum's Designs. All the sales and purchases of the business are made on credit. The opening and closing balances for accounts receivable, accounts payable and inventory are shown below. Accounts receivable Inventory Accounts payable At start of period $3000 2 000 4000 At end of period $5800 15 200 6 100 During the reporting period, Joe Phum received S58 000 from accounts receivable and paid S36 000 to suppliers. Required Calculate the revenue from sales, cost of sales and gross profit for the reporting period for Phum's Designs