XYZ company provided the following information: Sales $43,500 Accounts payable 5,500 Selling expenses 10,000 Administrative expenses 3,000 Other revenues 7,000 Cost of goods sold 30,000 Cash 4,000 Other expenses 12,000 Required: Calculate the following: (SHOW YOUR CALCULATIONS) 1. Gross profit 2. Net income/ loss (note: specify whether the company had net income or net loss) For the toolbar prece ALT+C10 IDENT EN 10