iz K Question 1 of 4 Consider the following partially completed income statements for merchandising companies and compute the m (Click the icon to view the Income Statements.) Net Sales Revenue Laura's Bakery Rustic Gear 102,000 Cost of Goods Sold: Beginning Merchandise Inventory 30,000 Purchases and Freight In 47,000 Cost of Goods Available for Sale 87,000 Ending Merchandise Inventory (2,100) (2,100) Cost of Goods Sold 62,000 Gross Profit 40,000 116,000 Selling and Administrative Expenses 26,000 85,000 14,000 31,000 Operating Income