The cost accountant for Sunset Fashions has compiled the following information for last quarter$$s operations:

Administrative costs $ $208,000$

Merchandise inventory, April $149,000$

Merchandise inventory, June $3039,500$

Merchandise purchases $1,730,000$

Miscellaneous store costs $21,000$

Sales commissions $132,000$

Sales revenue $2,970,000$

Store lease $47,000$

Utilities $55,500$

Transportation$-$in costs $122,000$

Wages and benefits $710,000$

Required:

Prepare a cost of goods sold statement.

Prepare an income statement.