The following data were provided by Mystery Incorporated for the year ended December 31: Cost of Goods Sold $ 175,000
Income Tax Expense 20,700
Merchandise Sales (gross revenue) for Cash 260,000
Merchandise Sales (gross revenue) on Credit 46,000
Office Expenses 20,000
Sales Returns and Allowances 7,650
Salaries and Wages Expense 44,200
a. What was the amount of gross profit?
b. What was the gross profit percentage? (Round your percentage to 1 decimal place.)

Which of the following is likely not a benefit of requiring a grand jury to listen to and examine all of the evidence against a person suspected of committing a serious crime and then independently deciding whether or not to hand down an indictment? 1.the grand jury system provides the accused another safeguard against being sent to trial and facing conviction based on flawed evidence. 2.the members of the grand jury are drawn from the community and are empowered to render independent decisions about whether or not the government has collected enough evidence to bring an individual to trial. 3.the grand jury’s decision can provide prosecutors insight into what is necessary to build a sufficient case if a similar crime is presented later. 4.the grand jury is impaneled to rubber-stamp prosecutors’ cases, which makes it possible for more cases to reach trial.