[The following information applies to the questions displayed below.) Hair World Inc. is a wholesaler of hair supplies. Hair World uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: $39,209 a. Sold merchandise for cash (cost of merchandise $22,797). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $270 ). c. Sold merchandise (costing $4,038 ) to a customer on account with terms n/60. d. Collected half of the balance owed by the customer in (c). e. Granted a partial allowance relating to credit sales the customer in (c) had not yet paid. 450 8,500 4,250 136 Required: 1. Compute Net Sales and Gross Profit for Hair World. Net Sales Gross Profit