5-6

of course pic is not the full partial income statement

At the end of Kingbird, Inc's fiscal year on November 30, 2022, these accounts appeared in its adjusted trial balance. Freight-in $7,300 Inventory 40,000 Purchases 594,700 Purchase Discounts 6,400 Purchase Returns and Allowances 2.400 Sales Revenue 1,143,900 Sales Returns and Allowances 21,100 Additional facts: 1. Merchandise inventory on November 30, 2022, is $53,700. 2. Note that Kingbird, Inc. uses a periodic system. Prepare an income statement through gross profit for the year ended November 30, 2022. Kingbird, Inc. Income Statement (Partial) hall