Pamela's Trim and Perm is a retail chain specializing in salon-quality hair-care products. During the year, Pamela's Trim and Perm had sales of $39,387,000. The company began the year with $2,865,000 of merchandise inventory and ended the year with $3,600,000 of inventory. During the year, Pamela's Trim and Perm purchased $22,585,000 of merchandise inventory. The company's selling, general, and administrative expenses totaled $5,775,000 for the year. Prepare Pamela's Trim and Perms' income statement for the year. Begin by calculating Pamela's Trim and Perms' cost of goods sold using the table below. Pamela's Trim and Perm Calculation of Cost of Goods Sold For the Year Ended Plus: Less: Now prepare Pamela's Trim and Perms' income statement for the year. Pamela's Trim and Perm Income Statement For the Year Ended Less: Less