Question: A partial work sheet for The Fan Shop is presented here. The merchandise inventory at the beginning of the year was $49,300.00.. G. Ochoa, the

A partial work sheet for The Fan Shop is presented here. The merchandise inventory at the beginning of the year was $49,300.00.. G. Ochoa, the owner, withdrew $30,400.00 during the year. The Fan Shop Prepare an income statement. Required: Prepare an income statement. The Fan Shop Income Statement For Year Ended December 31, 20-- Net Sales Cost of Goods Sold: Net Purchases Operating Expenses: Total Operating Expenses Other Income: Other Expenses: Net Income Journalize the closing entries. If an amount box does not require an entry, leave it blank

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