Net Sales

Cost of Goods Sold:

Operating Expenses:

Total Operating Expenses

Net Income$\backslash$table$[[,$INCOME STATEMENT$],[$ACCOUNT NAME,DEBIT,CREDIT$],[$Income Summary,$32,000\mathrm{.}00,31,000\mathrm{.}00],[$Sales$,,324,000\mathrm{.}00],[$Sales Returns and Allowances,$13,310\mathrm{.}00,],[$Sales Discounts,$7,700\mathrm{.}00,],[$Purchases$,,],[$Purchases Returns and Allowances,,$1,200\mathrm{.}00],[$Purchases Discounts,,$1,300\mathrm{.}00],[$Freight In$,7,500\mathrm{.}00,],[$Selling Expenses,$61,560\mathrm{.}00,],[$General Expenses,$50,884\mathrm{.}00,],[,299,314\mathrm{.}00,357,500\mathrm{.}00],[$Net Income,$58,186\mathrm{.}00,],[,357,500\mathrm{.}00,357,500\mathrm{.}00],[,,]]$

From the information given, prepare an income statement for the company.

Ralley Company

Income Statement

For Year Ended August $31,20--$