Exercise 3 Based on the information that follows, prepare the revenue section of a multiple-step Income statement Sales Sales Returns and Allowances Sales Discounts P1,172,000 45,600 62,400 Exercise 4 Based on the information that follows, prepare the cost of goods sold section of a multiple- step income statement. 2310 Merchandise Inventory, January 1, 2016 Purchases Purchase Returns and Allowances Purchases Discounts Freight-in Merchandise Inventory, December 31, 2017 P136,000 408,000 16,800 8,160 3,200 112,000 Exercise 5 Based on the information that follows, prepare the cost of goods sold section of a multiple- step income statement. qur Merchandise Inventory, Beginning Purchases Purchase Returns and Allowances Purchase Discounts Freight-in Merchandise Inventory, End P 82,800 427,800 19,128 8,760 2,340 128,400