Precious Curls is a retail chain specializing in salon-quality hair-care products. During the year, Precious Curls had sales of $39,387,000. 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 $21,400,000 of merchandise inventory. The company's selling, general, and administrative expenses totaled $5,900,000 for the year. Prepare Precious Curls' income statement for the year. HERE Precious Curls Income Statement For the Year Ended Less: Less