finish all of it plus explain!

Fenwick Fashions Company ncome Statement For the Year Ended December 31, 19xx Revennes from Sales Gross Sales Less: Sales Returns and Allowances $246,350 2,750 Sales Discounts _1275 7025 Net Sales $239,3 Cost of Goods Sold Merchandise Inventory January 1, 19xx $126,400 Less: Purchases Returns and Allowances $5,640 Purchases Discounts 2196 7776 $118,624 Freight In Net Purchases Goods Available for Sale Less Merchandise Inventory December 31, 19xx Cost of Goods Sold 5.23 $179,660 107,965 Gross Margin from Sales Operating Expenses Selling Expenses 22,500 5,740 10,000 1,600 Sales Salaries Expense Freight Out Expense Advertising Expense Insurance Expense, Selling Store Supplies Expense $ 41,380 g Expenses General and Administrative Expenses $ 26,900 Office Salaries Expense Insurance Expense, General Office Supplies Expense Depreciation Expense, Office Equipment Total General and Administrative Expenses Total Operating Expenses $ 29,481 Net Income Reba's Retro Styles Shop Partial Adjusted Trial Balance March 31, 20x4 4,000 140,400 Returns and Alowances Purchases Purchases Returns and Allowances .204 4,600 65,250 25,750 t In alaries Expense Office Salaries Expense Advertising Expense Rent Expense Insurance Expense Utilities Expense Store Suppies Expense Office Supplies Expense Depreciation Expense, Store Equipment Depreciation Expense, Office Equipment 4,800 2,400 3,120 5,760 2,350 2,100 Using the information given, prepare an income statetment for Reba's Retro Styles Shop Store salaries Expense; Advertising Expense, Store Suppties Expense, Depreciation Expense, Store Equipment are Selling Expenses. Other Expenses are General and Administrative. 76,400 Beginning Inventory Ending Inventory