Question: Question 3 (30 points) Presented below is information for New generation Company for the month of October 2020. Cost of goods sold 484.000 Rent expense

Question 3 (30 points) Presented below is information for New generation Company for the month of October 2020. Cost of goods sold 484.000 Rent expense 60,000 Freight-out 14,000 Sales discounts 16.000 Insurance expense 34,000 Sales returns and allowances 26.000 Salaries and wages expense 126,000 Sales revenue 820.000 Instructions: Prepare an income statement for the Month ended October 2020 Income statement (30 points)

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