30A Preparing an income statement and calculating unit merchandising company Cam Smith owns Cam's Pets, a small retail shop selling pet supplies. On December 31, 2016, the accounting records of Cam's Pets showed the following: Inventory on December 31, 2016 $ 10,400 Inventory on January 1, 2016 15,100 Sales Revenue 58,000 Utilities Expense for the shop 3,700 Rent for the shop 4,900 Sales Commissions 2,950 Purchases of Merchandise Inventory 29,000