Ron Rutland is the sole proprietor of Pampered Pets, a business specializing in the sale of high-end pet gifts and accessories. Pampered Pets' sales totaled $1,010,000 during the most recent year. During the year, the company spent $55,000 on expenses relating to website maintenance, $33,000 on marketing, and $28,000 on wrapping, boxing, and shipping the goods to customers. Pampered Pets also spent $639,000 on inventory purchases and an additional $19,900 on freight-in charges. The company started the year with $16,800 of inventory on hand and ended the year with $13,700 of inventory. Prepare Pampered Pets' income statement for the most recent year.