Help Save & Exit Required information (The following information applies to the questions displayed below.] The following are the sales transactions of EcoMart Merchandising EcoMart uses a perpetual inventory system and the gross method. ed Oct. 1 Sold merchandise for $3,100, with credit terms n/30, invoice dated October 1. The cost of the merchandise is $1,700. 6 The customer in the October 1 sale returned $310 of merchandise for full credit. The merchandise, which had cost $170, is returned to inventory. 9 Sold merchandise for $1,500 cash. Cost of the merchandise is $1,090. 30 Received payment for the amount due from the October 1-sale less the return on October 6. at Use the above transactions, to analyze each transaction by indicating its effects on the components of the income statement- specifically, identify the accounts and amounts (including + or -) for each transaction. Income Statement Components Oct. 1 Oct. 6 Oct. 9 Oct. 30 Increase/Decrease Amount Increase/Decrease Amount Increase/Decrease Amount Increase/Decrease Amount Sales (gross) Sales discounts Sales returns and allowances Net sales Cost of goods sold Gross profit