The income statement of Blue Spruce Company is presented here. Blue Spruce Company Income Statement For the Year Ended November 30, 2025 Sales revenue $7,561,700 Cost of goods sold Beginning inventory $1,927,000 Purchases 4,337,800 Goods available for sale 6,264,800 Ending inventory 1,618,200 Total cost of goods sold 4,646,600 Gross profit 2,915,100 Operating expenses Selling expenses 450,700 Administrative expenses 713,800 1,164,500 Net income $1,750,600