The following data are available for Yoshi Corporation: Beginning inventory $12,500 Purchases returns and allowances $800 Purchases $45,000 Sales $85,400 Purchases discounts $1,200 Sales returns $2,000 Sales discounts $1,300 Operating expenses $31,700 Ending inventory $15,000

Compute the following

1. Net purchases

2. Net sales

3. Cost of Goods sold

4. Gross profit

5. Gross profit percentage