University Electronics has provided the following information for last year. Sales revenue Store rent Store utilities Adsinistrative costs Sales commissions Merchandise purchases Transportation in costs Merchandise inventory, March 1 Merchandise inventory, February 28 $ 4,158, een 235, 128, 305.ee 620, cee 2, 900, eee 112, see zee, eee 225,000 Required: 1. Prepare a cost of goods sold statement for last year 2. Prepare an income statement for last year Answer is not complete. 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 sign. UNIVERSITY ELECTRONICS Cost of Goods Sold Statement For the Year Ended February 28 $ 2.000.000 112,500 >$ Merchandise purchases Transportation in Total cost of goods purchased Cost of goods available for sale Merchandise inventory, February 28 Cost of goods sold 3,012,500 $ 3.125.000 225,000 S 3.125,000 XX Com Income Stml> 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 $ 4,150.000 285,800 120, pea 385, B2B 620.000 2,980,000 112,588 200, een 225,888 Required: 1. Prepare a cost of goods sold statement for last year. 2. Prepare an income statement for last year. Answer is not complete. 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 should UNIVERSITY ELECTRONICS Income Statement For the Year Ended February 28 Sales revenue $ 4.150.000 Cost of goods sold Operating loss