I'm really struggling with accounting, and need help learning how to do these problems. Any and all help is appreciated. Thank you in advanced!

Calculate cost of goods sold (LO6-2) Russell Retail Group begins the year with inventory of $55,000 and ends the year with inventory of $45,000. During the year, the company has four purchases for the following amounts. Purchase on February 17 Purchase on May 6 Purchase on September 8 Purchase on December 4 $ 210,000 130,000 160,000 410,000 Required: Calculate cost of goods sold for the year. Use equation provided in lecture slides to solve. $ Cost of Goods Sold $ Prepare a multiple-step income statement (LO6-2) Wayman Corporation reports the following amounts in its December 31, 2018, income statement. Sales revenue Interest expense Salaries expense Utilities expense $ 390,000 Income tax expense 20,000 Cost of goods sold 40,000 Advertising expense 50,000 $ 50,000 130,000 30,000 Required: Prepare a multiple-step income statement. Follow the Format given in illustration 6-4 in your text. WAYMAN CORPORATION Multiple-step Income Statement For the year ended December 31, 2018 $ Gross profit $ Total operating expenses Operating income Income before income taxes Net income $