$2-35$ Cost of goods purchased, cost of goods sold, and income statement. The following data are for

Huang Wong Ping Retail Outlet Stores. The account balances $($in thousands$)$ are for $2021.$

Compute $($a$)$ the cost of goods purchased and $($b$)$ the cost of goods sold.

Prepare the income statement for $2021.$

$2-36$ Cost of goods purchased, cost of goods sold, and income statement. The following data are for

Mama Retail Outlet Stores. The account balances $($in thousands$)$ are for $2020.$

Compute $($a$)$ the cost of goods purchased and $($b$)$ the cost of goods sold.

Prepare the income statement for $2020.$