Wayman Corporation reports the following amounts in its December 31, 2021, income statement Sales revenue Interest expense Salaries expense "Utilities expense $348,000 Income tax expense 14,000 cost of goods sold 34,000 Advertising expense 44,000 $ 44,000 124,000 24,000 Required: Prepare a multiple-step income statement. ! Required information [The following information applies to the questions displayed below.] During the year, TRC Corporation has the following inventory transactions. Date Transaction Jan. 1 Beginning inventory Apr. 7 Purchase Jul.16 Purchase Oct. 6 Purchase Number of Units 60 140 210 120 Unit Cost $ 52 54 57 58 Total Cost $ 3,120 7,560 11,970 6,960 $29,610 530 For the entire year, the company sells 450 units of inventory for $70 each. Required: 1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. FIFO Icon CA