2) - Sales + Sales Revenice Sales R+A-Sales Discounts Net selles 2 Income startiment for a Period ending Dec 31, 20224 Company - - n Beg. Merch. Iwv. + Purchases-Purchases R+A + fareight In 0 = Net purchases --Purchase Discount $ 12,000 $ 2,000 $340,000 Ending Merch. Inv. $120,000 Cast of Goods sold $ 220,000 $ 780,000 $ 12,000 $ 14,000. $ 754,000 Net Sales - Cons - Grose Margin Operation exp. $40,000 4330,000 $20,000 Len $ 534,000 $320100 Net income before Tax 8 213900 Income +axe 8 48,000 Net income 4165900