Question Help Jodi's Chop Shop is a retail chain specializing in salon-quality hair-care products. During the year, Jodi's Chop Shop had sales of $39,150,000. The company began the year with $2,500,000 of merchandise inventory and ended the year with $3,245,000 of inventory. During the year, Jodi's Chop Shop purchased $24.215.000 of merchandise inventory. The company's selling, general, and administrative expenses totaled $6,850,000 for the year. Prepare Jodi's Chop Shop's income statement for the year. Begin by calculating Jodi's Chop Shop's cost of goods sold using the table below. Jodi's Chop Shop Calculation of Cost of Goods Sold For the Year Ended Plus: Less: Now prepare Jodi's Chop Shop's income statement for the year. Jodi's Chop Shop Income Statement For the Year Ended Less: Less