Construct a profit and loss statement using the following
departmental figures and show the dollar amounts for net sales,
total cost of goods sold, gross margin, expenses, and profit.
Gross sales $82,000
Customer returns and allowances $4,000
Inward freight $2,000
Workroom costs $1,000
Opening inventory at cost $17,000
Closing inventory at cost $14,000
Purchases at cost $36,000
Cash discounts 8%
Advertising $5,000
Rent $12,000
Salaries $17,000
Miscellaneous expenses $2,500