Complete the income statement. 4) Camelot Sales Inc. had gross sales of $4,172,000 with returns of $59,900. The inventory on January 1 was $582,000. During the year $1,303,000 worth of goods was purchased with freight of $5600. The inventory on December 31 was $507,000. Wages and salaries were $88,000, rent was $14,600, advertising was $17,400, utilities were $5800, business taxes totaled $8200, and miscellaneous expenses were $7200. Camelot Sales Inc. Income Statement Year Ending December 31 Gross Sales 1) Returns 2) Net Sales Cost of Goods Sold Gross Profit Total Expenses Net Income before Taxes 4) A) 1) $4,172,000, 2) $59,900, 3) $4,112,100, 4) $1,372,400, 5) $2,739,700, 6) $141,200, 7) $2,587,300 B) 1) $4,172,000, 2) $59,900, 3) $4,112,100, 4) $1,383,600, 5) $2,728,500, 6) $141,200, 7) $2,707, 100 C) 1) $4,172,000, 2) $59,900, 3) $4,112,100, 4) $1,383,600, 5) $2,728,500, 6) $141,200, 7) $2,587,300