Asmall computer company contracted with a community college to supply computer tech support for all of the college's faculty and staff beginning september 1. two weeks before the date that performance was to begin, the computer company received a more lucrative offer at a large university. in order to fulfill its contract obligations to the community college, the company delegated its duties under the contract to another computer company for $1,000 above the contract price. the community college agreed to allow the replacement computer company to perform the services, but on september 1, the replacement company refused to perform. if the community college sues the replacement company, what will the result be?

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?