The income statement of Sunland Company is presented here. SUNLAND COMPANY Income Statement For the Year Ended November 30, 2022 Sales revenue $7,522,100 Cost of goods sold Beginning inventory $1,869,400 Purchases 4,492,900 Goods available for sale 6,362,300 Ending inventory 1,521,200 Total cost of goods sold 4,841,100 Gross profit 2,681,000 Operating expenses Selling expenses 425,000 Administrative expenses 687,800 1,112,800 Net income $1,568,200 Additional information: