2. Using the following data taken from Hsu's Imports Inc., prepare the cost of merchandise sold section the income statement for the year ended March 31, 2011 Merchandise inventory, April 1, 2010 t=? Merchandise inventory, March 31, 2011 Purchases Purchases returns and allowances Purchases discounts $ 193,250 180,100 1,079,600 51,200 18,500 Freishtin