Trend Works is a retail chain specializing in salon-quality hair care products. During the year, Trend Works had sales of $38,300,000. The company began the year with $2,985,000 of merchandise inventory and ended the year with $3,785,000 of inventory. During the year, Trend Works purchased $23,500,000 of merchandise inventory. The company's selling, general, and administrative expenses totalled $6,125,000 for the year. Prepare Trend Works' income statement for the year.

'rend Works purchased $23,500,000 of merchandise inventory. The company's selling, general, and administrative expenses totalled $6,125,000 for the year. 'repare Trend Works' income statement for the year