Using the following information, prepare the Cost of Goods Sold section of an income statement. Purchases Discounts $ 9,010 Merchandise Inventory, December 31 200,380 Purchases 504,560 Merchandise Inventory, January 1 192,810 Purchases Returns and Allowances 9,550 Freight In 13,060 blank Income Statement (Partial) blank $- Select - $- Select - $- Select - - Select - - Select - Net Purchases $fill in the blank 10 - Select - - Select - $- Select - - Select - $- Select