You are an Accountant for Alpha company. Your boss is asking you to prepare the analysis on Income statement and you are provided with the following data sets to consider. a Sales $170,000 b $450,000 C $225,000 d $330,000 Sales discounts 5,000 3,000 11,000 2,000 Sales returns and allowances 1,100 2,100 4,000 11,500 Cost of goods sold 133,000 301,000 110,000 220,000 Calculate net sales, gross profit, and gross profit ratio for each of the following situations. Round the gross profit ratio figure to the nearest whole percent. Which situation has the highest net sales? Which situation has the highest gross profit ratio? Provide suggestions to improve liquidity and turnover ratios for the company by keeping bad debts into account. Your company had revenues of $75,000, withdrawals of $10,000 and expenses of $62,000 during an accounting period. How would you record these transactions in the closing process of the books