Required information [The following information applies to the questions displayed below.] Hair World Inc. is a wholesaler of hair supplies. Hair World uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: $59, 200 a. Sold merchandise for cash (cost of merchandise $32,797). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $420). c. Sold merchandise (costing $5,700 ) to a customer on account with terms n/60. d. Collected half of the balance owed by the customer in (c). e. Granted a partial allowance relating to credit sales the customer in (c) had not yet paid. 700 12,000 6,000 192 Required: 1. Compute Net Sales and Gross Profit for Hair World. Net Sales .. .... Gross Profit Required information [The following information applies to the questions displayed below.] Hair World Inc. is a wholesaler of hair supplies. Hair World uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: $59, 200 a. Sold merchandise for cash (cost of merchandise $32,797). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $420). c. Sold merchandise (costing $5,700 ) to a customer on account with terms n/60. d. Collected half of the balance owed by the customer in (c). e. Granted a partial allowance relating to credit sales the customer in (c) had not yet paid. 700 12,000 6,000 192 2. Compute the gross profit percentage. (Round your answer to 1 decimal place.) Gross Profit Percentage