PART 1 1. Complete the following Cost of Goods Sold calculation for the year ended December 31, 2021. Add the appropriate missing side headings to explain the calculations being done. In other words, fill in any of the yellow parts. Cost of Goods Sold Beginning Inventory $ 4,000 Add: Purchases 26,000 Cost of Goods Sold $ 19,000 Given the following additional information, calculate Gross Profit and Net Income (Loss) (Net) Sales for the year = $47,500 Expenses for the year = $15,250 Gross Profit= Net Income =