The following selected accounts from the Concord Corporation's accounting records are presented below for the year ended December 31, 2017: Advertising expense Common stock Cost of goods sold Depreciation expense Dividends Freight-out Income tax expense Insurance expense Interest expense $ 60,500 275.000 1,193,500 137,500 165,000 27.500 77.000 16,500 77,000 Interest revenue Inventory Rent revenue Retained earnings Salaries and wages expense Sales discounts Sales returns and allowances Sales revenue $ 33,000 73.700 26,400 588,500 742,500 9.350 45.100 2,640,000 CONCORD CORPORATION Income Statement $ $ $