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Trim and Perm is a retail chain specializing in salon-quality hair care products. During the...

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Accounting

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Trim and Perm is a retail chain specializing in salon-quality hair care products. During the year, Trim and Perm had sales of $38,340,000. The company began the year with $2,675,000 of merchandise inventory and ended the year with $3,455,000 of inventory. During the year, Trim and Perm purchased $23,490,000 of merchandise inventory. The company's selling, general, and administrative expenses totalled $6.145,000 for the year Prepare Trim and Perm's income statement for the year, Trim and Perm Income Statement Cost of goods sold Operating income

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