Q$2.$ The following information belongs to John company, a retailer of high$-$end fashion products:

COGS during the year $2023$ : $$1\mathrm{.}105\mathrm{.}000$

Sales revenue : $$2\mathrm{.}000\mathrm{.}000$

Sales discounts : $ $200\mathrm{.}000$

Sales returns : $ $100\mathrm{.}000$

Shipping expense : $ $10\mathrm{.}000$

Depreciation expense : $ $20\mathrm{.}000$

Utilities expense : $ $30\mathrm{.}000$

Requirements: Compute cost of goods sold for the year $2023$ assuming the company uses perpetual

inventory system. Prepare the income statement for the year $2023.$