Show Me How Calculator Print Item Income Statement and Accounts for Merchandiser For the fiscal year, sales were $8,589,000 and the cost of goods sold was $4,896,000. a. What was the amount of gross profit? 3,693,000 b. If total operating expenses were $1,273,000, could you determine net income? C. Customer Refunds Payable is an) account. What is its normal balance? d. Estimated Returns Inventory is aan) account. What is its normal balance? Check My Work 10 more Check My Work uses remaining, All work saved