(3) At December 31, 2018 the adjusted trial balance of Dubai trading company shows the following account balances: 2 Account Name Cash / capital Beginning inventory Purchase goods/sales revenue Dr. Cr. $ 50,000 $ 135,600 10,000 60,000 78,000 Freight in 500 Freight out 600 Sales R&A/purchase R&A 9,800 4,500 Sales discount/purchase discount 2,200 1,000 A/receivable /A/ payable 25,000 35,000 Salaries/salaries pay. 12,000 3,000 Prepaid insurance 15,000 Oil and gas expense 4,000 Supplies expense 6,000 / Equipment accumulated depreciation 80,000 20,000 Rent expense 2,000 total 277,100 277,100 Required: 1. Compute the amount of net sales. NST. Sales SR&A - SD 2. Compute the cost of net purchase 3. Compute the cost of goods available for sale (COGAFS). 4. Compute the cost of goods sold (COGS); given the cost of ending inventory $ 30,000. 5. Compute the gross income or loss. 6. Compute net income or loss 7. Prepare multiple income statement.