3. The following data are for Honey Dee Store. The account balances (in thousands) are for 2021. $ Marketing and advertising costs Merchandise inventory, January 1, 2021 Shipping of merchandise to customers Depreciation on store fixtures Purchases General and administrative costs Merchandise inventory, December 31, 2021 Merchandise freight-in Purchase returns and allowances Purchase discounts Revenues 56,300 115,800 5,700 10,420 655,000 74,800 124,200 25,000 32,400 22,600 800,000 a. Compute (a) the cost of goods purchased and (b) the cost of goods sold. b. Prepare the income statement for 2021.

3. The following data are for Honey Dee Store. The account balances (in thousands) are for 2021. a. Compute (a) the cost of goods purchased and (b) the cost of goods sold. b. Prepans the income slatement for 2021