Russell Retail Group begins the year with inventory of $61,000 and ends the year with inventory of $51,000. During the year, the company has four purchases for the following amounts. Purchase on February 17 Purchase on May 6 Purchase on September Purchase on December 4 $216,000 136,000 166,000 416,000 Required: Calculate cost of goods sold for the year, Beginning inventory Cost of goods available for 430 Cost of goods sold Wayman Corporation reports the following amounts in its December 31, 2021, income statement Sales revenue Interest expense Salaries expense Utilities expense $348,000 14,000 34,000 44,000 Income tax expense Cost of goods sold Advertising expense $ 44,000 124,000 24,000 Required: Prepare a multiple-step income statement. WAYMAN CORPORATION Multiple-step Income Statement For the year ended December 31, 2021 ces Total operating expenses Operating income 0