Required information [The following information applies to the questions displayed below.] The following are the sales transactions of EcoMart Merchandising. EcoMart uses a perpetual inventory system and the gross method. 1 Sold merchandise for $3,300, with credit terms n/30, invoice dated October 1. The cost of the merchandise is $1,800 6 The customer in the October 1 sale returned $330 of merchandise for full credit. The merchandise, which had cost $180, is returned to inventory. 9 Sold merchandise for $1,6ee cash. Cost of the merchandise is $1,170. 30 Received payment for the amount due from the October 1 sale less the return on October 6. Oct. Use the above transactions, to analyze each transaction by indicating its effects on the components of the income statement- specifically, identify the accounts and amounts (including + or -) for each transadtion Income Statement Components Oct. 1 Increase/Decrease Oct. 6 Increase/Decrease Oct. 9 Increase/Decrease Amount Amount Amount Check my wos 6 The customer in the October 1 sale returned $330 of merchandise for full credit. The merchandise, which had cost $180, is returned to inventory. 9 Sold merchandise for $1,6ee cash. Cost of the merchandise is $1,170. 38 Received payment for the amount due from the October 1 sale less the return on October 6. Use the above transactions, to analyze each transaction by indicating its effects on the components of the income statement- specifically, identify the accounts and amounts (including + or -) for each transaction Oct. 6 Oct. 1 Increase/Decrease Amount Increase/Decrease Amount Oct. 9 Increase/Decrease (*) increase Amount Income Statement Components Sales (gross) Sales discounts Sales returns and allowances Net sales Cost of goods sold Gross profit (+) increase (+) increase (+) increase 3,300 1,800(-) decrease 330 (+) increase 180 (+) increase 1,60 1.12