UW NIEUW Une 305 Calculator Determining gross profit During the current year, merchandise is sold for $8,480,000. The cost of the goods sold is $6,275,200. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. X Open spreadsheet a. What is the amount of the gross profit? Round your answer to the nearest dollar. $ b. Compute the gross profit percentage (gross profit divided by sales). Round your answer to the nearest whole number. 96 c. Will the income statement always report a operating income? Check My Work Previous Next eBook Office 365 Show Me How Calculator Determining amounts to be paid on invoices Determine the amount to be paid in full settlement of each of the following invoices, assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period: Merchandise Invoice Amount Freight Paid by Seller Customer Returns and Allowances a. $35,000 $1,800 b. 12,400 $320 2,400 21,600 FOB destination, n/30 FOB shipping point, 2/10, n/30 FOB shipping point, 1/10, n/30 FOB shipping point, 1/10, n/30 FOB destination, 1/10, n/30 4,100 d. 9,700 180 1,100 77,700 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. X THIIHII Open spreadsheet Round your answers to the nearest dollar a. $ b. $ Check My Work