Sheridan Company purchases various types of beach toys for sale to consumers. Listed below are the transactions for the month of June. Sheridan uses a perpetual inventory system. June 1 Purchased 25 water tubes for $250 each terms n/30 FOB destination. 8 Returned 3 tubes purchased on June 1 due to defects. Received a full refund for the defective tubes. 10 Freight charges of $85 for the June 1 transaction are paid by the responsible party. 11 Made a complaint about competitive pricing. Received a $200 credit for the water tubes purchased on June 1. 15 Purchased 106 water tubes for $225 each on account, terms 2/10n/30. 18 Made payment for the amount owing for the June 1 transaction. 20 Made payment for the amount owing for the June 15 transaction. Journalize the transactions using the perpetual inventory system. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries.) Determine the balance of the Merchandise Inventory account at the end of June. (There was no inventory at the beginning of the month.) Current Attempt in Progress Presented below is selected information for Walker Company for the month of March, 2024. Prepare a multiple-step income statement. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Calculate the gross profit margin. (Round answer to 2 decimal places, e.g. 15.25\%.)