Sleek and Shiny is a retail chain specializing in salon-quality hair-care products. During the year, Sleek and Shiny had sales of $39,410,000. 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, Sleek and Shiny purchased $23,975,000 of merchandise inventory. The company's selling, general, and administrative expenses totaled $7,185,000 for the year. Prepare Sleek and Shiny's income statement for the year. Begin by calculating Sleek and Shiny's cost of goods sold using the table below