Salon Secrets is a retail chain specializing in salon-quality hair-care products. During the year, Salon Secrets had sales of $39,388,000. The company began the year with $3,350,000 of merchandise inventory and ended the year with $4,315,000 of inventory. During the year, Salon Secrets purchased $22,895,000 of merchandise inventory. The company's selling, general, and administrative expenses totaled $6,850,000 for the year. Prepare Salon Secrets' income statement for the year. Less: Less: Salon Secrets Income Statement For the Year Ended Income Statement For the Year Ended Beginning inventory Cost of goods available for sale Cost of goods sold Ending inventory Gross profit Operating expenses Operating income Purchases Sales revenues