1. Make a schedule of cost of goods sold for the three-month period ended march 31,2020.

2. Make a statement of income for the period ended March 31, 2020.

3. make closing entries.

Sales 500,000 Merchandise Inventory, 170,100 beginning Sales Returns and 15,000 Merchandise Inventory, 165,000 Allowances Ending Sales Discounts 7.800 Purchase Discounts 1,800 Purchases 302,000 Freight-In 5,000 Purchase Returns and 4.9000 Rental Expense 5.000 Allowances Supplies Expense 1,200 Delivery Expense 2,100 Salaries Expense 18,000 Utilities Expense 8,000