The following data were extracted from the accounting records of Harkins Company for the year ended April 30, 2017: Merchandise inventory, May 1, 20Y6 $303,200 379,100 Merchandise inventory, April 30, 2017 2,463,900 75,800 45,500 3,790,600 11,400 Purchases Purchases returns and allowances Purchases discounts Sales Freight in a. Prepare the cost of merchandise sold section of the income statement for the year ended April 30, 20Y7, using the periodic inventory system. b. Determine the gross profit to be reported on the income statement for the year ended April 30, 2017. c. Would gross profit be different if the perpetual inventory system was used instead of the periodic inventory system? D. During the current year, merchandise is sold for $171,500 cash and $524,500 on account. The cost of merchandise sold is $529,000. What is the amount of the gross profit?