Required a$.$ Use the financial statement effects template to record retail cash sales of $\backslash (\backslash$$ $1,000\backslash )$ made during the current fiscal year, in a state with a sales$-$tax rate of $\backslash (8\backslash \%\backslash ).$ For this question, assume $\backslash (10\backslash \%\backslash )$ of all merchandise sold is returned within $90$ days. b$.$ Use the financial statement effects template to record the following transaction: On March $4,$ an internet customer places an order for $\backslash (\backslash$$ $2,000\backslash )$ and pays online with a credit card $($which is equivalent to cash for accounting purposes$).$ The goods are shipped from the warehouse on March $6,$ and FedEx confirms delivery on March $7.$ Ignore shipping costs, sales tax, and returns.

c$.$ Use the financial statement effects template to record the gift card activity during the current fiscal year. Ignore sales tax and returns. Details are as follows.

d$.$ Determine the amount of revenue Target collected from customers who used their loyalty card $($REDcard $\backslash (\{\}^\{\backslash$text $\{$TM$)\}\}\backslash ))$ for each of the fiscal years reported. What proportion of total revenues come from REDcard $\backslash (\{\}^\{\backslash$text $\{$TM $\}\}\backslash )$ customers each year? Does the loyalty program seem to be working?