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The following information was taken from the accounting records of Bay Village Paving Co. for the month of January, 20--: Sales $857,000 Sales Returns and

The following information was taken from the accounting records of Bay Village Paving Co. for the month of January, 20--:

Sales $857,000

Sales Returns and Allowances 1,876

Sales Discounts 627

Purchases 378,000

Purchases Returns and Allowances 9,560

Purchases Discounts 2,760

Freight-In 3,700

Merchandise Inventory, January 1111,000

Merchandise Inventory, January 31106,000

Finish making a partial income statement for the month of January, showing gross profit.

Bay Village Paving Co.

Income Statement (partial)

For the month ended January 31, 20--

Sales

Sales returns and allowances

Sales discounts

Net sales

Cost of goods sold:

Merchandise inventory, January 1

Purchases

Purchases returns and allowances

Purchases discounts

Net purchases

Freight-in

Cost of goods purchased

Goods available for sale

Merchandise inventory, January 31

Cost of goods sold

Gross profit

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