Presented below is information for Monty Company, Ltd. for the month of March 2017. Cost of goods sold Freight-Out Insurance expense Salaries and wages expense 212,550 8,220 5,340 58,840 Rent expense Sales discounts Sales returns and allowances Sales revenue Other comprehensive income 31,020 6,980 12,040 385,540 2,250 (a) Prepare an income statement. Sales Revenues > Sales Revenue Less Sales Returns and Allowan Sales Discounts Net Sales Cost of Goods Sold Gross Profit > Operating Expenses Freight-Out Insurance Expense Salaries and Wages Expen: Rent Expense Total Operating Expenses Net Income / (Loss)