A&Z TRADING STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR DECEMBER 31, 2019 Beginning Inventory 100,000 Add: Purchase 698,000 Add: Freight In 3,000 Less: Purchase Returns and Allowances -10,000 Less:...

Extracted text: A&Z TRADING STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR DECEMBER 31, 2019 Beginning Inventory 100,000 Add: Purchase 698,000 Add: Freight In 3,000 Less: Purchase Returns and Allowances -10,000 Less: Purchase Discount -3,400 Less: Ending Inventory -271,400 Cost of Goods Sold 516,200 Net Sales 658,000 Cost of Goods Sold 516,200 Gross Profit 141,800 Gross Profit 141,800 Less: Expenses Selling Expenses 4,000 General Expenses 12,000 Salaries Expenses 20,000 Rent Expense 4,000 Total Expenses 40,000 Net Profit from Operation 101,800