Required information PA6-3 (Static) Recording Sales with Discounts and Estimated and Actual Returns, and Analyzing Gross Profit Percentage [LO 6-4, LO 6-5) (The following information applies to the questions displayed below.) Hair World Incorporated is a wholesaler of hair supplies. Hair World uses a perpetual Inventory system. The following transactions (summarized) have been selected for analysis: a. Bold merchandise for cash cost of merchandise $28,797). $ 51,200 b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) c. Sold merchandise (costing $4,750) to a customer on account with terme n/60. 10,000 d. Collected half of the balance owed by the customer in (e). 5,000 e. Granted a partial allowance relating to credit sales the customer in (c) had not yet paid. 1. Anticipate further returns of merchandise (conting $140) after year-end from sales made during the year. 250 160 350 PA6-3 (Static) Part 4 4. Hair World is considering a contract to sell merchandise to a hair salon chain for $15,000. This merchandise will cost Hair World $10,000. What would be the increase for decrease) to Hair World's gross profit and gross profit percentage? (Round "Gross Profit Percentage" to 1 decimal place.) Gross Profit Gross Profit Percentage by to