The following is a listing of some of the balance sheet accounts and all of the income statement accounts for Northview Company as they appear on the company's adjusted trial balance. Accounts Payable Accounts Receivable Inventory Advertising Expense Cost of Goods Sold Delivery Expense Income Tax Expense Insurance Expense Rent Expense Sales Revenue Sales Discounts Sales Returns & Allowances $ 9,000 19,000 21,600 16,000 121,000 6,800 3,700 1,000 15,200 240,000 10,200 31,000 Gross profit would be Multiple Choice Gross profit would be: Multiple Choice $71,000 $108,400. $77,800 $74,700 Inventory costing $5,500 is sold for $7,500 with terms 3/10, n/30. If the buyer pays within the discount period, what amount will be reported on the income statement as net sales? Multiple Choice $2,000 $7,275 $5,875 $7,500 A company has net sales of $658,100 and cost of goods sold of $421184. The company's gross profit percentage is: Multiple Choice 3 64% 2.78% 0.31% 36%