Tom Reynold is the sole proprietor of Regal Pets, a business specializing in the sale of high-end pet gifts and accessories Regal Pets sales totaled $980,000 during the most recent year. During the year, the company spent $53,000 on expenses relating to website maintenance $33.200 on marketing, and $27,900 on wrapping, boxing, and shipping the goods to customers, Regal Pets also spent $437,000 on inventory purchases and an additional $21.300 on freight in charges. The company started the year with $19.800 of inventory on hand and ended the year with $17.300 of inventory Prepare Ragar Pets income statement for the most recent year Begin by calculating the cost of goods sold for the year Begrung inventory Regal Pets Cost of Goods Sold For Current Year Plus Purchases and freight in Les Ending inventory Gest of goods so