Waukesha Company has gross sales of 160% of cost of goods sold. It has also provided the following information for the calendar year 2003: Inventory balance, January 1, 2003........ $100,000 Total cost of goods available for sale...... 300,000 SAIS AAI oo. cols 6 ole mie olan Delete noe 13,000 PUIGCHAS CUneCUNMS rie mete e tockey sla nici ecm 5,000 Pie ie inecears aero olor eh cecycumirtonoS 5ho Baao.aic 2,000 GSAS (nae Grins) ooskn edo poe aon ae 407,000 Operating expenses ........-+++++--+:: 27,000 Required: Using the available information, compute the following. (Ignore income taxes.) Gross sales for 2003. Net purchases and gross purchases for 2003. Cost of goods sold for 2003. Inventory balance at December 31, 2003. Gross margin for 2003. ON ee Net income for 2003.