The following data were extracted from the accounting records of Harkins Company for the year ended April 30, 2019: Increase in estimated returns inventory $11,600 Merchandise inventory, May 1, 2018 380,000 Merchandise inventory, April 30, 2019 415,000 Purchases 3,800,000 Purchases returns and allowances 150,000 Purchases discounts Sales Freight in 80,000 5,850,000 16,600 a. Prepare the cost of merchandise sold section of the income statement for the year ended April 30, 2019, using the periodic inventory system. Sales Harkins Company Income Statement For the Year Ended April 30, 2019 Cost of merchandise purchased: Merchandise inventory, May 1, 2018 380,000 415,000 Net purchases 3,800,000 3,586,600 3.966,600 415.000 3,551,600 Cost of merchandise sold b. Determine the gross profit to be reported on the income statement for the year ended April 30, 2019. 2,310,000