Q-2) The list of accounts of Guardian Company contained the following information: Accounts Amount $ Sales 750,000 Sales Returns and Allowances 20,000 Rent Expense 5,000 Purchases 600,000 Sales Discounts 7,000 Purchase Returns and Allowances 25,000 Cost of Goods Sold ? Interest Revenue 15,000 Sales commission 15,000 Purchase Discounts 11,000 Interest Expense 10,000 Freight-out 2.000 Store Salaries Expense 50,000 Freight-in 19,000 Utilities Expense 28,000 Depreciation Expense 7.000 Dividend revenue 5.000 Beginning inventory 45,000 Rent Revenue 10,000 Ending inventory 55,000 Lawsuit defrayal expense 8000 Accumulated depreciation 15000 Instruction: Use the above information to prepare a multiple-step income statement for the year ended December 31, 2019. (Show the calculation of COGS) (20 marks)