Use the following financial information to find the entry you would make on an income statement for NET INCOME (LOSS) for the year ended December 31, 2006. Gross Sales, $123,000, Rent, $20,100; Utilities, $1.425, Insurance, $2,250; and Income Tax, $15.900. $81,350 00: Sales Returns and Allowances, 59,300: Sales Discounts, $8,700, Merchandise Inventory, January 1, 2006, 589,000: Merchandise inventory December 31, 2006, $109,500 Net Purchases. 574,700; Freight In $575, Salaries, 526,450 4 points Save Answer O $81,350 O $97,250 ($97,250) O ($15,900)