XYZ company provided the following information: Sales $30,000 Accounts payable 3,000 Selling expenses 4,000 Administrative expenses 5,500 Other revenues 10,000 Cost of goods sold 13,500 Cash 12,000 7,000 Other expenses Required: Calculate the following: (SHOW YOUR CALCULATIONS) 1. Gross profit Not income/ loss (note: specify whether the company had net income or net loss