Schumacher Company uses the perpetual inventory system, and it engaged in the following transactions during 2014: Started the business by issuing common stock for $7770 cash 2) Paid cash to purchase $5,090 of inventory 3) Sold inventory that cost $3,135 for $7,520 cash 4) Incurred and paid operating expenses, $259 Schumacher Company engaged in the following transactions during 2015: 1) Paid cash to purchase $6,025 of inventory 2) Sold inventory that cost $7,270 for $15,690 cash 3) incurred and paid operating expenses, $518 The gross margin for the year 2014 is: O $4,385 O $8,420 $7,520 $9347 MacBook Air F290 W