Required information [The following information applies to the questions displayed below.) The following are the sales transactions of Eco Mart Merchandising. EcoMart uses a perpetual inventory system and the gross method October 1 sold merchandise for $2,900, with credit terms n/30, invoice dated October 1. The cost of the merchandise is $1,600. October 6 The customer in the October 1 sale returned $290 of merchandise for full credit. The merchandise, which had cont $160, is returned to inventory. October 9 Sold merchandise for $1,400 cash. Cost of the merchandise is $1,010. October 30 Received paynfnt for the anount due from the October 1 bale lens 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 October 1 Increase/Decrease October Increase/Decrease October Increase/Decrease Amount Amount Amount Inc Income Statement Components Sales (gros) Salos discounts Salos returns and allowances Net sales Cost of goods sold Gross profit the above transactions to analyze each transaktion by Indicating its effects on the components of the incomo statomont- cifically. Identify the accounts and amounts including + or -) for each transaction October 1 Increase/Decrease October 6 Increase/Decrease October Increase Decrease October 30 Increase Decrease Amount Amount Amount Amount income Statement Components es gross) es discounts os roturns and slowances sales of goods sold s pront