Precious Curls is a retail chain specializing in salon-quality hair-care products. During the year, Precious Curls had sales of $ 39 comma 300 comma 000. The company began the year with $ 3 comma 500 comma 000 of merchandise inventory and ended the year with $ 4 comma 445 comma 000 of inventory. During the year, Precious Curls purchased $ 24 comma 100 comma 000 of merchandise inventory. The company's selling, general, and administrative expenses totaled $ 5 comma 450 comma 000 for the year. Prepare Precious Curls' income statement for the year.