Neil Webster is the sole proprietor of Prestigious Pugs, a business specializing in the sale of high$-$end pet gifts and accessories. Prestigious Pugs' sales totaled $$1,105,000$ during

the most recent year. During the year, the company spent $$55,000$ on expenses relating to website maintenance, $$30,500$ on marketing, and $$29,500$ on wrapping, boxing, and

shipping the goods to customers. Prestigious Pugs also spent $$638,000$ on inventory purchases and an additional $$19,500$ on freight$-$in charges. The company started the year

with $$16,250$ of inventory on hand and ended the year with $$16,000$ of inventory. Prepare Prestigious Pugs' income statement for the most recent year.

Prepare Prestigious Pugs' income statement for the most recent year.

Prestigious Pugs

Income Statement

For Current Year