Clever Cuts is a retail chain specializing in salon-quality hair care products. During the year, Clever Cuts had sales of $ 38,400,000 . The company began the year with $3,100,000of merchandise inventory and ended the year with $4,115,000 of inventory. During the year, Clever Cuts purchased $23,580,000 of merchandise inventory. The company's selling, general, and administrative expenses totalled $6,135,000 for the year. Prepare income statement for the year