+ Use the following information to answer questions 4 and 5 on the next page. Account Name Sales Sales Returns and Allowances Sales Discounts Cost of Goods Sold Selling Expenses General and Administrative Expenses Debit Credit 75.000 1,500 1,000 28,000 7,500 27,500 In addition, beginning merchandise inventory was $5,500 and ending merchandise inventory was $3,500. 4. Net sales for the period were [A] $75,500. [B] $72,500. [C] $77,500. [D] $73,500. 5. Net profit for the period was [A] $9,500. [B] $12,000. [C] $44,500. JD1 $47.000