Question 16 2 pts Refer to Gerald's Department Store. Calculate Gerald's net sales. $175,000 $162,000 $170,000 $167.000 Question 17 2 pts Refer to Gerald's Departm goods purchased Store. Calculate Geralds' cost of $ 103,000 $ 84,000 $ 90,000 $ 117,000 D Use the following information for questions 16 through 18: Gerald's Department Store. is a merchandising company that uses the periodic inventory system. Selected account balances are listed below: Sales $175,000 Purchases 90,000 Inventory (Beginning) 23,000 Inventory (Ending) 17,000 Purchase returns and allowances 3,000 Purchase discounts 7,000 Transportation-in 4,000 Sales discounts 8,000 Sales returns and allowances 5,000 Question 18 2 pts Refer to Gerald's Department Store. Determine Gerald's gross profit. $85,000 $72,000 $68,000 $78,000