USE the Following Information to Answer the Questions Below 1. Our Business uses the Perpetual LIFO Method of Inventory Valuation 2. May 1 Our Business Received $200,000 Cash in Exchange for Common Stock 3. May 10th Our Business Bought 900 Golf Clubs for $60 Each total of $54,000 with a Check 4. May 15th the Our Business Bought 900 Golf Clubs for $70 Each, total of $63,000 on Account 5. May 22nd Our Business received the May Utility Bill in the Amount of $22,000 to be paid Later 6. May 25th Our Business Sold 600 Golf Clubs to the Eagle Golf Course for $200 each total of $120,000 of which $70,000 was received in cash and the remainder $50,000 was Billed to the Customer on Account 7. On May 31 Our Business paid $33,000 to Owners of the Business with Checks. Compute the Gross Profit for the Month Ended May 31st [Choose Compute the Net Income for the Month Ended May 31st [Choose Compute the Ending Cash Balance I Choose