Saved mework Merchandise costing $1,100 is sold for $2,100 on terms 1/30, n/60. If the customer pays within the d reported on the income statement as net sales and as gross profit? Net Sales Gross Profit Required information [The following information applies to the questions displayed below.] The following data were provided by Mystery Incorporated for the year ended December 3 of 2 Cost of Goods Sold Income Tax Expense Merchandise Sales (gross revenue) for Cash Merchandise Sales (gross revenue) on Credit Office Expenses Sales Returns and Allowances Salaries and Wages Expense $166,000 18,060 242,000 42,400 19, 100 7,110 40,600 ook mint rences 2-a. What was the amount of gross profit? 2-b. What was the gross profit percentage? (Round your percentage to 1 decimal place.) 12-a Gross Profit 2-b Gross Profit Percentage 96