The following gross profit data are taken from Eckhardt Company's financial records: 1|2013|2014 |Sales |$300,000 $296,000 | Cost of goods sold|(200,000)|(203,300) |Gross profit|$100,000 $92,700 1. Ifit is known that volume declined 5% from 2013 to 2014, by how much did selling prices change? 2. If it is known that volume declined 5% from 2013 to 2014, by how much did costs change? 3. If selling prices increased 4% from 2013 to 2014, what effect would this factor alone have on gross profit? 4. If costs increased by 7% from 2013 to 2014, what effect would this factor have on gross profit