4.1-*PLEASE ANSWER ALL 5 QUESTIONS*

5 multiple choice questions.

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Net income is not affected by a purchase of merchandise. True or False inventory system. Which of the following answers reflects the effect of the sales revenue on the financial statements? Keisha Dress Shops experienced the following events during its third accounting period. (1) Sold merchandise that cost $95,400 for $157,000 cash. (2) Paid $38,500 of operating expenses. (3) Paid a $7,400 cash dividend. Based on this information, the amount of the gross margin is Multiple Choice $61,600. $23,100. $15,700. None of the answers is correct. Merchandising businesses include retail companies and manufacturing companies. True or False