The Following Information Was Taken from the Accounting Records of Northern

The following information was taken from the accounting records of Northern Lights for the month of October, 20--: $\begin{array}{lr}\text { Sales } & \$ 344,000 \\\text { Sales Returns and Allowances } & 3,410 \\\text { Sales Discounts } & 370 \\\text { Purchases } & 194,500 \\\text { Purchases Returns and Allowances } & 9,740 \\\text { Purchases Discounts } & 5,560 \\\text { Freight-In } & 1,580 \\\text { Merchandise Inventory, October 1 } & 42,000 \\\text { Merchandise Inventory, October 31 } & 33,000\end{array}$ Complete a partial income statement for the month of October, showing gross profit.