2. Prepare an income statement based on the financial information for Karel Trading Company Karel Trading Company Trial Balance For the year ended December 31, 2021 Sales \begin{tabular}{|r|r|} \hline \multicolumn{1}{|c|}{ Debit } & \multicolumn{1}{c|}{ Credit } \\ \hline & 8,875,000 \\ \hline 16,000 & \\ \hline 101,000 & \\ \hline 4,125,000 & \\ \hline & 115,000 \\ \hline & 118,000 \\ \hline 1,218,000 & \\ \hline 600,000 & \\ \hline 840,000 & \\ \hline 116,000 & \\ \hline 50,000 & \\ \hline 360,000 & \\ \hline 60,000 & \\ \hline 240,000 & \\ \hline 180,000 & \\ \hline & \\ \hline 728,000 & \\ \hline \end{tabular} Merchandise inventory, January I, 2016 Merchandise inventory, December 31, 2016