Following is some selected data of Magenta Company from the April 30, 2022 adjusted trial balance, shown alphabetically. Magenta Company is a merchandising operation that uses a periodic Inventory system. Note: Refer to page 5-34 referencing the Cost of Goods Sold Section of the periodic Income Statement for guidance regarding the format required to answer this question. Accounts Payable 840 Accounts Receivable 325 8,600 75 Bill Magenta, Capital Interest Revenue Merchandise inventory- March 31, 2022 Operating expenses Purchases 6.000 6.100 8,200 Purchases discounts 230 Purchases returns & allowances 420 Sales 40,000 5.000 Store Equipment Store Supplies Freight-in Bill Magenta, Drawings 125 900 600 A physical count on April 30, 2022 revealed a merchandise inventory balance of $4.800. Required: Calculate Cost of Goods Sold for Magenta Company for April 2022 (show & label all work). Stormy supply Store Trial Balance 31-Dec-22 $30,000 27.000 50,800 1,500 800 560 128.000 Cash Accounts receivable Merchandise inventory Office supplies Store supplies Prepaid Insurance Building Accumulated depreciation-Building Accounts payable Salaries payable R. Raptor, capital R. Raptor, drawings Sales Sales Returns and Allowances Sales Discount Cost of goods sold Interest Expense Depreciation expense Salaries expense Internet expense Store Supplies expense $38,900 23,000 2,400 98,000 9.700 880,000 26,700 33,900 552,940 3,200 25,600 144,700 2.100 4.800 152,300 1,042,300 Required: Prepare a multi-step income statement. Note. There are marks for formatting such as $,underlines, section labels. 1 mark will be deducted for each account that does not belong on the statement