The Income Statement columns of the August 31 (year-end) work sheet for Ralley Company are shown here. To save time and space, the expenses have been groupe. INCOME STATEMENT DEBIT ACCOUNT NAME Income Summary Sales Sales Returns and Allowances Sales Discounts Purchases Purchases Returns and Allowances Purchases Discounts Freight In Selling Expenses General Expenses Net Income 32,000.00 Revenue from Sales: Sales 13,310.00 7,700.00 126,360.00 CREDIT 31,000.00 324,000.00 1,200.00 1,300.00 7,500.00 61,560.00 50,884.00 299,314.00 58,186.00 357,500.00 357,500.00 357,500.00 From the information given, prepare an income statement for the company. Ralley Company Income Statement For Year Ended August 31, 20-- 324,000

The Income Statement columns of the August 31 (year-end) work sheet for Ralley Company are shown here. To save time and space, the expenses have been groupe From the information given, prepare an income statement for the company