Question 1. Cost of goods purchased, cost of goods sold, and income statement. + The following data are for Bowser's United Company, toys' retailer. Below you may find selected data of the following company:- t t t Sales Purchase returns and allowances Discounts received on purchases- Stock inventory, December 31, 2019 Stock freight-in- Advertising costs Inventory, January 1, 2019- Delivery of stock to customers Purchases Depreciation on buildings Administrative costs- 880 000 12 000 14 200 156 000 32 000 56 000 95 000 6 000 650 000 4 800 46 000 e te t t e t Required: (a) Calculate the cost of goods purchased and COGS (b) Make a Profit & Loss Statement for the year 2019