The following selected information is for Ottawa Company for the year ended January 31, 2021: Accounts payable Delivery expense Freight in Interest expense Merchandise inventory, beginning Merchandise inventory, ending P. M. Lewis, capital P. M. Lewis, drawings Prepaid expenses Purchases $ 32.300 7.000 6,500 6,000 61.000 42.000 105.000 42,000 2,500 210,000 Purchase discounts Purchase retums and allowances Rent expense Salaries expense Salaries payable Sales Sales discounts Sales returns and allowances Short-term not receivable Uneamed reve $ 12.000 16,000 20.000 61,000 2,500 325.000 14,000 20,000 2.000 4,500 Instructions a (18 marks) Prepare an Income Statement for year ended January 31, 2021 in multiple step format. Show the calculation of net Sales and Cost of Goods sold in the statement. b. (12 marks) Prepare closing entries. 42