Using the following data taken from Hsu's imports Inc., which uses a periodic inventory system to answer this question. Merchandise inventory. April 1 Merchandise inventory, March 31 Purchases Purchases returns and allowances Purchases discounts $193,250 180,100 1,079,600 51,200 18,500 1,860,000 19,250 Sales Freight-in Determine the grous profit to be reported on the income statement for the year ended March 31