The following data were extracted from the accounting records of Harkins Company for the year ended April 30, 2019:

Increase in estimated returns inventory	$ 9,400
Merchandise inventory, May 1, 2018	377,900
Merchandise inventory, April 30, 2019	472,400
Purchases	3,070,400
Purchases returns and allowances	94,500
Purchases discounts	56,700
Sales	4,723,700
Freight in	14,200

a. Prepare the cost of merchandise sold section of the income statement for the year ended April 30, 2019, using the periodic inventory system.

Harkins Company
Income Statement
For the Year Ended April 30, 2019
		$
Cost of merchandise purchased:
	$
Net purchases	$
		$
		$
Cost of merchandise sold

b. Determine the gross profit to be reported on the income statement for the year ended April 30, 2019. $

c. Would gross profit be different if the perpetual inventory system was used instead of the periodic inventory system?