5 Use the following financial information to find the entry you would make on an income statement for INCOME BEFORE TAXES for the year ended December 31, 2011 Grois Sales, $223,000; Sales Returns and Allowances, $11,200, Sales Discounts, $1,800, Merchandise Inventory, January 1, 2011, 567,600, Merchandise Inventory, December 31, 2011, $78,300, Net Purchases, $54,000, Freight In, $950, Salaries, $107,200; Rent, $19,500, Utilities, $1,450, Insurance, $2,150, and Income Tax $14,900 O $130300 $135,750 ($9,450) O $5,450