At the end of the accounting year, August 31, 20x2, selected accounts from the adjusted trial balance LO 2 Trading Income Statement:

LO 4 Perpetual Inventory System for Polly's Fashion Shop appeared as follows:

REQUIRED Using the information given, prepare an income statement for Polly's Fashion Shop. Freight In should be combined with Cost of Goods Sold. Store Salaries Expense; Advertising Expense; Store Supplies Expense; and Depreciation Expense, Store Equipment are selling expenses. The other expenses, except Income Taxes, are general and administrative expenses.

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Polly's Fashion Shop Partial Adjusted Trial Balance August 31, 20x2 Sales Sales Returns and Allowances Cost of Goods Sold Freight In Store Salaries Expense Office Salaries Expense Advertising Expense Rent Expense Insurance Expense Electricity Expense 162,000 2,000 61,400 2,300 32,625 12,875 24,300 2,400 1,200 1,560 Store Supplies Expense 2,880 Office Supplies Expense 1,175 Depreciation Expense, Store Equipment 1,050 Depreciation Expense, Office Equipment Income Taxes 800 4,500