.Larkin Clothing Store employs the periodic inventory system and prepares monthly financial statements. All accounts have been adjusted except for merchandise inventory. A physical count of merchandise inventory on November 30, 1999, indicates that $32,000 was on hand. A partial listing of account balances follows:

Accounts Receivable$9,000

Merchandise Inventory, November 130,000

Commissions Expense600

Freight-in2,000

Purchase Returns and Allowances3,500

Sales Discounts1,800

Purchases28,000

Sales70,000

INSTRUCTIONS

Prepare a partial income statement for the Larkin Clothing Store for

the month ended November 30, 1999. The income statement should show

items through gross profit.