Craig Gonzales owns Craig's Pets, a small retail shop selling pet supplies. On December 31, 2024, the accounting records of Craig's Pets showed the following: (Click the icon to view the accounting records.) Read the requirements. Requirement 1. Prepare an income statement for Craig's Pets for the year ended December 31, 2024. Craig's Pets Income Statement Year Ended December 31, 2024 Revenue: Cost of Goods Sold:Data table Merchandise Inventory on December 31, 2024 Merchandise Inventory on January 1, 2024 Net Sales Revenue Utilities Expense for the shop Rent for the shop Sales Commissions Purchases of Merchandise Inventory 10,900 15,700 60,000 3,900 4,600 2,550 24,000 Requirements 1. Prepare an income statement for Craig's Pets for the year ended December 31, 2024. 2. Craig's Pets sold 3,450 units. Determine the unit cost of the merchandise sold, rounded to the nearest cent. Cost of Goods Sold: l: Cost of Goods Sold Gross Prot Selling and Administrative Expenses: ; : |_ Total Selling and Administrative Expenses 1 Selling and Administrative Expenses: Total Selling and Administrative Expenses Operating Income (Loss) Advertising Expense ; Beginning Merchandise Inventory Cost of Goods Available for Sale Ending Merchandise Inventory Net Sales Revenue Purchases of Merchandise Inventory Rent Expense Sales Commissions Expense Utilities Expense