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. October 1 sold merchandise for $2,500, with credit terms n/30, invoice dated October 1. The cost of the merchandise is $1,450. October 6 The customer in the October 1 sale returned $269 of merchandise for full credit. The merchandise, which had cost $145, is returned to inventory. October 9 Sold merchandise for $1,250 cash. Cost of the merchandise is $899. October 30 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. Income Statement Components October 1 Increase/Decrease October 6 Increase/Decrease October 9 Increase/Decrease October 30 Increase/Decrease Amount Amount Amount Amount Sales (gross Sales discounts Sales returns and allowances Net sales Cost of goods sold Gross profit