Univeristy Electronics has provided the following information for last year.

Saved Exercise 2-46 (Algo) Prepare Statements for a Merchandising Company (LO 2-2) University Electronics has provided the following information for last year. Sales revenue Store rent Store utilities Administrative costs Sales commissions Merchandise purchases Transportation in costs Merchandise inventory, March 1 Merchandise inventory, February 28 $ 4,100,000 230,000 125,000 300,000 630,000 2,850,000 110,000 195,000 220,000 Required: 1. Prepare a cost of goods sold statement for last year. 2. Prepare an income statement for last year. Complete this question by entering your answers in the tabs below. COGS Stmt Income Stmt Prepare a cost of goods sold statement for last year. (Amounts to be deducted and losses should be entered with a sign.) UNIVERSITY ELECTRONICS Cost of Goods Sold Statement For the Year Ended February 28 Required: 1. Prepare a cost of goods sold statement for last year. 2. Prepare an income statement for last year. Complete this question by entering your answers in the tabs below. COGS Stmt Income Stmt Prepare a cost of goods sold statement for last year. (Amounts to be deducted and I sign.) UNIVERSITY ELECTRONICS Cost of Goods Sold Statement For the Year Ended February 28 Total cost of goods purchased Cost of goods sold Required: 1. Prepare a cost of goods sold statement for last year. 2. Prepare an income statement for last year. Complete this question by entering your answers in the tabs below. COGS Stmt Income Stmt Prepare an income statement for last year. (Amounts to be deducted and losses sho UNIVERSITY ELECTRONICS Income Statement For the Year Ended February 28 Sales revenue $ 4,100,000 Cost of goods sold Gross margin Marketing and administrative costs Operating profit