As the new general manager of a regional cable service, joe is studying the formal configuration of groups and individuals in respect to the allocation of tasks, responsibilities, and authority within the cable company. he notices that there are numerous layers of people between the cable installers and technicians and himself as general manager. he thinks this is because of the high degree of specialization in the company. everyone seems to have very narrowly defined jobs. joe decides he wants fewer layers of employees and for each manager to have responsibility for more employees. he reduces the number of managers from 10 to 3. as a consequence, each manager will make of his/her own decisions and rely less on joe. joe's initial study is of the cable company's:

Expert computers was started in 2018. the company experienced the following accounting events during its first year of operation: started business when it acquired $40,000 cash from the issue of common stock. purchased merchandise with a list price of $32,000 on account, terms 2/10, n/30. paid off one-half of the accounts payable balance within the discount period. sold merchandise on account for $28,000. credit terms were 1/20, n/30. the merchandise had cost expert computers $16,000. collected cash from the account receivable within the discount period. paid $2,100 cash for operating expenses. paid the balance due on accounts payable. the payment was not made within the discount period. required record the events in a horizontal statements model below. in the cash flows column, use the letters oa to designate operating activity, ia for investing activity, fa for financing activity, or nc for net change in cash. if the account is not affected by the event, leave the cell blank. the first event is recorded as an example. what is the amount of gross margin for the period? what is the net income for the period?