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(a) Calculate the missing amounts. (b) Sales declined over the 3-year fiscal period, 2013-2015. Does that mean that pr ability necessarily also declined? Explain, computing the gross profit rate and t profit margin for each fiscal year to help support your answer: (Round to one decimal place.) "P5-8A At the beginning of the current season on April 1, the ledger of Kokott Pro Shr showed Cash $3,000. Inventory $4,000, and Common Stock $7.000. These transactions occurred during April 2015 Apr. 5 Purchased golf bags, clubs, and balls on account from Hogan Co. $1.200 FOB shipping point, terms 2/10, n/60. 7 Paid freight on Hogan Co. purchases $50 9 Received credit from Hogan Co. for merchandise returned $100 10 Sold merchandise on account to customers $600, terms n/30 12 Purchased golf shoes, sweaters, and other accessories on account from Duffer 14 17 20 21 27 30 Sportswear $450, terms 1/10, n/30 Paid Hogan Co. in full. Received credit from Duffer Sportswear for merchandise returned $50. Made sales on account to customers $600, terms n/30. Paid Duffer Sportswear in full. Granted credit to customers for clothing that had flaws $35. Received payments on account from customers $600. The chart of accounts for the pro shop includes Cash, Accounts Receivable, Inventory Accounts Payable, Common Stock, Sales Revenue, Sales Returns and Allowances, Purchases Purchase Returns and Allowances, Purchase Discounts, and Freight-In. Instructions (a) Journalize the April transactions using a periodic inventory system (b) Using Taccounts, enter the beginning balances in the ledger accounts and post the April transactions. (c) Prepare a trial balance on April 30, 2015. (d) Prepare an income statement through gross profit, assuming merchandise inventory on hand at April 30 is $4,824

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