The cost accountant for Sunset Fashions has compiled the following information for last quarter's operations: Administrative costs Merchandise inventory, April 1 Merchandise inventory, June 30 Merchandise purchases Miscellaneous store costs Sales commissions Sales revenue Store lease Utilities Transportation-in costs Wages and benefits Required: 1. Prepare a cost of goods sold statement. 2. Prepare an income statement. $ 211,000 49,000 39,500 1,730,000 24,000 135,000 3,000,000 47,000 55,500 122,000 710,000