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)