Required information [The following information applies to the questions displayed below.] Castillo Styling is a wholesaler of hair supplies. Castillo Styling uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: a. Sold merchandise for cash (cost of merchandise $35,997). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $420). c. Sold merchandise (costing $10, 450) to a customer on account with terms n/60. $ 64,000 450 22,000 e. Granted a partial allowance relating to credit sales the customer in (c) had not yet paid. 11,000 200 d. Collected half of the balance owed by the customer in (c).. f. Anticipate further returns of merchandise (costing $340) after year-end from sales made during the year. 460 4. Castillo Styling is considering a contract to sell merchandise to a hair salon chain for $55,000. This merchandise will cost Castillo Styling $36,000. What would be the increase (or decrease) to Castillo Styling gross profit and gross profit percentage? (Round "Gross Profit Percentage" to 1 decimal place.) Gross Profit Gross Profit Percentage by to "