a. Prepare the income statement for Rushmore Biking Inc. for the month ending February 28. Assume that Rushmore Biking Inc. uses the perpetual inventory method. Rushmore Biking Inc. Income Statement For the Month Ended February 28 Revenues $ 1,048,800 Cost of goods sold 585,900 Gross profit x Selling and administrative expenses: blank blank Selling expenses 251,900 Administrative expenses 93,700 blank Total selling and administrative expenses blank 345,600 Operating income