The income statement of Pharoah Company is presented here. Pharoah Company Income Statement For the Year Ended November 30, 2025 Sales revenue $7,697,000 Cost of goods sold Beginning inventory $1,893,400 Purchases 4,315,800 Goods available for sale 6,209,200 Ending inventory 1,568,500 Total cost of goods sold 4,640,700 Gross profit 3,056,300 Operating expenses Selling expenses 446,100 Administrative expenses 693,000 1,139,100 Net income $1,917,200