Income Statement For the period ended. 121 Revenue from Sales: 131.. Sales Return and Allowance Net Sales Cost of Goods Sold: ..141....... (1700) 74,200 .(6) Purchase Less: Purchase Returns (2).. Add: Fright in 19) Cost of goods Available for sale 35,000 (1960) 18). 360 (10)........ 55,690 (121 27,600 46,600 Cost of Good Sold Gross Profit Operation Expense Rent Expense Loss from machine Sale Interest Expense ...113......... (15) 4,500 500 140 114... (16)