Required information PB6-3 (Algo) Recording Sales 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.] Sanders Lumber \& More (SLM) is a local hardware store. SLM uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: a. Sold merchandise for cash (cost of merchandise $304,350 ). b. Received merchandiso roturned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $3,500 ). c. Sold eerchandise (costing $5,400 ) to a custoner on account with terme n/30. d. collected half of the balance owed by the customer in (c). e. Granted a partial allowance relating to credit sales the custoner in (c) had not yet paid. f. Anticipate further returns of eerchandise (costing $3,500 ) after year-end froo sales made during the year $700,000 5, 600 9,000 4, 500 1, 950 5. 400 PB-3 (Algo) Part 4 . SLM is considering a contract to sell buliding supplies to o local home builder for $24,000. These materials will co5t SLM $19,200. Would this contract increase (or decrease) SLMs dollars of gross profit and its gross profit percentage? (Round "Gross Protit Percentage" to 1 decimal place.)