Given the following information,prepare in good form the cost of goods sold section of an income statement for 2013.
Definitions:
GIC
A Guaranteed Investment Certificate (GIC) is a Canadian investment that offers a guaranteed rate of return over a fixed period.
Monthly Interest
Monthly interest is the amount of interest earned or paid on an investment or loan calculated and paid on a monthly basis.
Regular-interest
The standard or typical interest rate applied to savings or investment accounts, calculated over a set period.
Invested
The method of placing financial resources in expectation of yield or profit.
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