Sunshine Group, the Italian company that sells Ray Ban and Oakley sunglasses, reported net sales of 6.4 billion in 2014 and 7.4 billion in 2015. Gross profit increased to 3.7 billion in 2015 from 3 billion in 2014, 1. Calculate the gross profit percentage for each year. (Round your answers to 1 decimal place.) 2014 2015 Gross Profit 1% % 2. Was the increase in gross profit caused by an increase in gross profit per sale. O an increase in sales volume. O an increase in gross profit per sale and an increase in sales volume. a SSG sold merchandise to SRU at a selling price of $155.000. The merchandise had cost SSG $106.000. b. Two days later, SRU complained to SSG that some of the merchandise differed from what SRU had ordered. SSG agreed to give an allowance of $6,000 to SRU. SRU also returned some sporting goods, which had cost SSG $15,000 and had been sold to SRU for $19,500 c. Just three days later SRU paid SSG, which settled all amounts owed. 2 2. Prepare the journal entries SSG would record. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction llat Mew journal entry worksheet No Transaction 1 a(1) Accounts Receivable Sales Revenue General Journal Credit Debit 155,000 155,000 2 2 a(2) 106,000 Cost of Goods Sold Inventory 106,000 3 3 b(1) 25,500 Allowance for Doubtful Accounts Accounts Receivable 25,500 4 b(2) 15,000 Inventory Cost of Goods Sold 115,000 5 0 129.500 Cash Accounts Receivable 129,500