XYZ company provided the following information Sales Accounts payable Selling expenses Administrative expenses Other revenues Cost of goods sold Cash Other expenses $134,500 15,500 37,000 13,000 27,000 95,000 24,000 22,000 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, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BIUS Paragraph Arial 10pt