Assume the following data for Alpine Technologies for the year ending July 31, 20Y2. Sales Estimated percent of sales expected to be $1,371,000 refunded or issued an allowance in 20Y3 Estimated cost of inventory expected to be returned in 20Y3 1.2% $10,200 Illustrate the effects of the adjustments for customer refunds and returns on the accounts and financial statements of Alpine Technologies for the year ended July 31, 20Y2. If no account or activity is affected, select "No effect" from the dropdown and leave the corresponding number entry box blank. Enter account decreases, cash outflows, and the income statement effects that reduce gross profit as negative amounts. Financial Statement Effects Balance Sheet Assets Liabilities + Stockholders' Equity Estimated Returns Inventory = Customer Refunds Payable + Retained Earnings July 31. 10,200 x x Statement of Cash Flows Income Statement No Effect Sales Cost of goods sold Gross profit X x