Points: 0 of 1 Save Precious Curts is a retail chain specializing in salon-quality hair care products. During the year, Precious Curls had sales of $36,270,000. The company began the year with $2,675,000 of merchandise inventory and ended the year with $3,455,000 of inventory. During the year, Precious Curls purchased $23,560,000 of merchandise Inventory. The company's seling, general, and administrative expenses totalled $6,120,000 for the year. Prepare Precious Curls'income statement for the year, Precious Curls Income Statement Sales revenue Cost of goods sold: Beginning inventory Purchases Cost of goods available for sale Ending inventory Operating income 361 55