At the end of Ermler Department Stores fiscal year on November 30, 2014, these accounts appeared in its adjusted trial balance.

Freight-In	$5,060
Inventory (beginning)	41,300
Purchases	613,000
Purchase Discounts	7,000
Purchase Returns and Allowances	6,760
Sales Revenue	902,000
Sales Returns and Allowances	20,000

Additional facts:

1.	Inventory on November 30, 2014, is $36,200.
2.	Note that Ermler Department Store uses a periodic system.

Prepare an income statement through gross profit for the year ended November 30, 2014.