Prepare the journal entries to record the following purchase transactions in Xtra Inc's books. Xtra uses a perpetual inventory system. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Jan. 2 5 Xtra purchased goods for $45.000 from Fundy Corp, terms 1/45. FOB destination. The appropriate company paid freight costs of $900. Xtra returned $6,000 of the goods purchased on January 2, because they were not needed. Xtra paid the balance owed to Fundy. 6 11 Date Account Titles and Explanation Debit credit Credit Jan 2 Jan 5 Jan 6 Jan 11 Gross profit margin 26.1 % Profit margin 117 % eTextbook and Media Attempts: 1 of 3 used Using multiple attempts will impact your score. 5% score reduction after attempt 1 (b) The vice-president of marketing and director of human resources have proposed that the company change its compensation of the sales force to a commission basis rather than paying a fixed salary, Given the extra incentive, they expect sales to increase by 15%. They estimate that gross profit will increase by $27,000, operating expenses by $13,500, and income tax expense by $2,700. Non-operating expense is not expected to change. Calculate the expected new gross profit and net income amounts. (Hint: You do not need to prepare a formal statement of income.) $ Expected new gross profit Expected net income amount $