prepare the monthly income statement in columnar format for Feb, Mar and Apr following the format, also prepare the journal entries to establish the valuation account at Jan 31 and entries to adjust it at the end of each month after that

Current Attempt in Progress The following information is for Bridgeport Enterprises Ltd.: Jan 31 Feb. 28 Mar. 31 Apr. 30 Inventory at cost $25,800 $25,200 $29,300 $23,200 Inventory at the lower of cost and net realizable value 24,700 17,100 22,900 17,100 Purchases for the month 20,900 24,900 26,600 Sales for the month 31.700 36,800 40,400 Bridgeport Enterprises Ltd. Income Statement February Sales $ 31700 Cost of Goods Sold Inventory, Beginning Purchases 20900 Cost of Goods Available Inventory, Ending Cost of Goods Sold Gross Profit/(Loss) Gain/(Loss) Due to Market Fluctuations of Inventory $ $ 3200 tA 4A