@ ezto.mheducation.com D4 Question 6 - Week 3 - Learning Activity 3 - Connect Week 3 - Learning Activity 3 @ Saved Help Save&Exit Submit 6 A B Cc D 1 Trial Balance 2 December 31 3 Debit Credit 4 |\\Cash $14,000 5 _|Accounts receivable 27,000 6 | Merchandise inventory 15,000 7 Prepaid insurance 2,500 8 Store equipment 15,000 9 |Accumulated depreciation - Store equipment $3,000 10 | Office equipment 25,000 11 |Accumulated depreciation - Office equipment 5,000 12 Accounts payable 9,000 13 | Notes payable - long term 25,000 14 Common stock 26,000 15 | Dividends 3,000 16 Sales 90,000 17 Sales discounts 1,800 18 Sales returns and allowances 2,200 19 | Cost of goods sold 35,000 20 | Selling expenses 11,000 21 General and administrative expenses 6,000 22 |Interest expense 500 23 | Totals $158,000 $158,000 24 Which formula correctly calculates gross profit? Py