Schafer Merchandising showed the following information in alphabetical order. Administrative expenses $138,000 Cost of goods manufactured .. 400,000 Finished goods, May 31, 2023 42,000 Finished goods, May 31, 2024 28,000 Sales oo e 141,000 Selling expenses . 82,000 Using the information provided, prepare an income statement for the year ended May 31, 2024. Round all amounts to the nearest dollar, if any amounts do not have a value, enter 0; Do not leave any answers blank. SAICS e 741,000 Cost of goods sold Beginning finished goods inventory 42 000 Cost of goods manufactured 400,000 Goods available for sale Ending finished goods inventory Gross profit .. e Operating expenses Administrative expenses 138,000 Selling expenses . . . 82,000 Operating income e