The cost accountant for Sunset Fashions has compiled the following information for last quarter’s operations: Administrative costs $ 212,000 Merchandise inventory, April 1 49,000 Merchandise inventory, June 30 39,500 Merchandise purchases 1,730,000 Miscellaneous store costs 25,000 Sales commissions 136,000 Sales revenue 3,010,000 Store lease 47,000 Utilities 55,500 Transportation-in costs 122,000 Wages and benefits 710,000 Required: Prepare a cost of goods sold statement. Prepare an income statement.

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