Using the following information, complete the 12/31/2021 Income Statement for Michael's and Company in good form Administrtation Expenses $ 5,275 Beginning Inventory $ 1,650 Ending Inventory $ 2,125 I Freight in $ 1,895 $ 925 Purchase Discounts Purchase Returns $ 1,175 Purchases $ 37,925 $ 58,650 Sales Sales Expenses $ 4,500 Sales Returns and Discounts $ 1,125 Tax Rate 40%