Hanaforde Company provides us information for the month of March 2020:

OPEN WORD DOCUMENT and complete the problem, emailing the problem to the professor, once you complete the exam, or use the space provided to you, to prepare an income statement, using the information found below. OR OPEN PDF DOCUMENT and complete the problem, emailing the problem to the professor, once you complete the exam, or use the space provided to you, to prepare an income statement, using the information found below. Hanaforde Company provides this information for the month of March 2020: sales on credit $220,000; cash sales $50.000; sales discounts $2,000; and sales returns and allowances $5,000: cost of goods sold $140,000; freight-out$19,000. Prepare the sales revenues and gross profit sections of the income statement based on this information