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Hair Care Inc. is a wholesaler ol helt supplies. Halt Care uses a perpetual inventory system. The following transactions (summarized have been selected for analysis: A sold serchandise for oth cost of merchandise 328,991) b. Received merchandise returned by customers story that in pertect conditions for the end (original con merchandise $380) c. Sold merchandise eestiny 14.150) to custo, secount with to 1/10, 5/30 d. collected hait of the balance oved by the creatomet in tc within the discount period Cranted an allowance to the customer in e Required: 1. Compute Sales Revenue, Net Sales, and Gross Profit for Hair World. Sales revence Net sales Gross profil 2. Compute the gross profit percentage. (Round your answer to the nearest whole percent.) Gross prot percentage 3. Prepare journal entries to record transactions (a)-(e). (If no entry is required for a transaction/even required" in the first account field.) View transaction list Journal entry worksheet Record the sale of merchandise. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal Record entry Clear entry View general Journal 4. Hair Care is considering a contract to sell merchandise to a hair salon chain for $15,200. This merchandise will cost Hair Care $10,000 (a) Compute the new gross profit percentage. (Round your answer to the nearest whole percent.) New gross prefit percentage (6) Would this contract increase or decrease Hair Care's gross profit percentage? Decrease Increase a. Is a wholesaler of hair supplies. Hair Care uses a perpetual inventory system. The following transactions (summarized) elected for analysis: erchandise for cash (cost of merchandise $28,997) 351,400 ed merchandise returned by customers as unsatistactory (but in perfect condition), for cash refund (original costat ndise $380) 620 archandise (costing $4,850) to a customer, on account with terms 1/10, 1/30 10,000 ted half of the balance owed by the customer in (a) within the discount period 4,950 d an allowance to the customer (c) 170 Sales Revenue, Net Sales, and Gross Profit for Hair World