ourses/45593/assignments/5814529?module_item_id=17734143 2021. The following is what he produced: $395,000 $5,600 3,500 9,100 385,900 AYAYAI COMPANY Income Statement December 31, 2021 Sales Less: Unearned revenue Purchase discounts Total revenue Cost of goods sold Purchases Less: Purchase returns and allowances Net purchases Add: Sales returns and allowances Cost of goods available for sale Add: Freight out Cost of selling merchandise Gross profit margin Operating expenses Freight in Insurance expense Interest expense Rent expense Salaries expense Total operating expenses 232,500 4,000 236,500 7,500 244,000 9,500 253,500 132,400 4,600 10,600 2.600 17.900 42.100 77.800 Dr.me ourses/45593/assignments/5814529?module_item_id=17734143 2021. The following is what he produced: $395,000 $5,600 3,500 9,100 385,900 AYAYAI COMPANY Income Statement December 31, 2021 Sales Less: Unearned revenue Purchase discounts Total revenue Cost of goods sold Purchases Less: Purchase returns and allowances Net purchases Add: Sales returns and allowances Cost of goods available for sale Add: Freight out Cost of selling merchandise Gross profit margin Operating expenses Freight in Insurance expense Interest expense Rent expense Salaries expense Total operating expenses 232,500 4,000 236,500 7,500 244,000 9,500 253,500 132,400 4,600 10,600 2.600 17.900 42.100 77.800 Dr.me