Barkley Company’s adjusted trial balance on March 31, 2013, its fiscal year-end, follows

On March 31, 2012, merchandise inventory was $37,500. Supplementary records of merchandising activities for the year ended March 31, 2013, reveal the following itemized costs.

Required 1. Calculate the company's net sales for the year. 2. Calculate the company's total cost of merchandise purchased for the year. 3. Prepare a multiple-step income statement that includes separate categories for selling expenses and for general and administrative expenses. 4. Prepare a single-step income statement that includes these expense categories: cost of goods sold, selling expenses, and general and administrative expenses.

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Merchandise inventory. Other (noninventory) assets Total liabilities.... C. Barkley, Capital C. Barkley, Withdrawals Debit Credit $ 56,500 202,600 $ 42,500 164,425 3,000