[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: $31,200 a. Sold merchandise for cash (cost of merchandise $18,797) b. Received merchandise returned by customers an unsatisfactory (but in perfect condition) for cash refund original cont of merchandise $210). c. Sold merchandise (costing $3,563 ) to a customer on account with term n/60. d. Collected half of the balance owed by the customer in (0) e. Granted a partial allowance relating to credit sales the customer in (e) had not yet paid. 350 7,500 3,750 120 PA6-3 Part 1 Required: 1. Compute Net Sales and Gross Profit for Hair World. Answer is complete but not entirely correct. Net Sales Gross Profit 38,350 3 16,340 3 $