QUESTION 3 Cost of goods purchased, cost of goods sold, and income statement. The following data are for Carolina Retail Outlet Stores. The account balances are for 2015. Marketing and advertising costs, $23600, Merchandise inventory, January 1, 2015, $30200, Shipping of merchandise to customers, $1260, Building depreciation, $1650, Purchases, $148700, General administrative costs, $15000, Merchandise inventory, December 31, 2015, $36100, Merchandise freight in, $4950, Purchase returns and allowances, $4840, Purchase discounts, $8820, Revenues, $255000. Required 1. Compute both the cost of goods purchased, and the cost of goods sold. 2. Prepare the income statement for 2015. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac)