Question 3 (30 points) Presented below is information for Next Century Company for the month of October 2020. Cost of goods sold Freight-out Insurance expense Salaries and wages expense 726,000 Rent expense 90,000 21,000 Sales discounts 24,000 51,000 189,000 Sales returns and allowances 39.000 Sales revenue 1,230,000 Instructions: Prepare an income statement for the Month ended October 2020. Income statement (30 points) Assessment Document - 2020-2021 Page 4 of 4