The following data were extracted from the accounting records of Dana Designs for the year ended March 31. 
Prepare the gross profit and cost of goods sold section of the income statement for the year ended March 31, using the periodic method.
Definitions:
Insurance Company
A financial institution that provides a range of insurance policies to protect individuals and businesses against risk and financial loss.
Medical Clinic
A healthcare facility primarily focused on the care of outpatients, offering diagnostic and treatment services.
Porter's Five Forces Model
A framework developed by Michael E. Porter used to analyze an industry's structure and competition, focusing on five competitive forces.
Potential Rivals
Entities not currently competing in a market but have the capability to enter and become competitors if they choose to do so.
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