Requirement 1. Prepare a detailed gross profit section for Kirkland's Jewelry Wholesalers for the year ended December 31, 2000 ($ in thousand), computing the amount for Gross Sales Kirkland's Jewlery Wholesalers Schedule of Gross Proft For the Year Ended December 31, 2008 Deduct Net sales Deduct Cost of goods sold Deduct Net purchases Add Tutal cost of merchandise acquired Cost of goods available for sale Deduct Cost of goods sold Grass prof (Sin thousands Data Table Cash discounts on purchases 22 Cash discounts on sales 22 Sales retums and allowances 6 Purchase retums and allowances Gross purchases 000 Freightin 80 Merchandise inventory Merchandise inventory December 31, 20x7 100 December 31, 200 236 Gross proft 349 Pont Done x