Account Title Purchases discounts Purchases returns and allowances Sales Partial Trial Balance Year Ended December 31, 2002 Sales discounts Sales returns Freight-in Purchases Freight-out Merchandise Inventory, January 1, 2002 Merchandise Inventory, December 2002 Debit Credit $ 8,000 2,000 1,000,000 $ 14,500 17,500 20,000 610,000 5,000 89,000 124,000 Instructions: Prepare a partial income statement to determine the gross margin (i.e., gross profit).