A42 x fx Hint - the tables below are formatted for the exact numbers of in D B 6 1 Concord Company's adjusted trial balance on August 31, Its fiscal year-end, follows. It categorizes the following accounts as selling expenses: sales salaries expense, rent expense-selling space, store sdpplies expense, advertising expense. It categorizes the remaining expenses as general and administrative 2 Credit Debit 44.000 175.000 50 820 143,537 8,000 300 960 5 Merchandise invertory (ending) 6 Oher (noninventory assets 7 Tbilis X. Concord, Capital k Concord Withdrawal 10 Sales 11 Sales discounts 12 Sales returns and allow 13 Cost of goods sold 14 Salossa expense 15 Rentconte-Selling space 16 Store supplies expense 17 Advertisingapore i oice salaries expense 19 Rent esporte Office space 20 ptice supplies experte 21 Total 22 23 4,805 19.863 115,842 41200 14,145 3,612 24 SRO 37.620 3.612 1204 1 1 495,317 196,317 Page 1 Beginning merchandise inwentory was 535,608. Supplementary records of merchandising activities for the year ended August 31 reveal the following itemized costs. 26 27 18 39 30 Invoice cost of merchandise purchase Purchase decounts received Purchases and we Cosle of remportation in 129 10 2.717 6.209 3.800 1 Required 34 1. Compute the company's net sales for the year 12. Compute the company's total cost of merchandise purchased for the year 3. Prepare a multiple step income statement that includes separate categories for net sales, cost of 36 goods sold, seting expenses and general and administrative expenses 4. Prepare a single-step income statement that includes these expense categories: cost of goods sold. eing expenses, and general and administrative expenses 39 Msde income stmt + 14 32 * fx Hint - the tables below E F Selling expenses, and general and administrative expenses. Hint - the thbles below are formatted for the exact numbers of lines you will need to complete each section, Compute Net Sales Sales Net Sales Cost of Merchandise Purchased Total cost of merchandise purchased Calculate Selling Expense Total cost of merchandise purchased 7 Concord COMPANY Income Statement For Year Ended August 31 Sales 9 0 1 2 3 24 35 Page 2 Net sales Gross profit Expanse 27 78 79 Total selline exames General and administrative expenses Msde income stmt 22 D Total cost of merchandise purchased Concord COMPANY Income Statement For Year Ended August 31 Sales Page 2 Net sales Gross profit Expense 5 7 19 50 Total selling expenses General and administrative expenses 32 85 Total general and administrative expenses Total expenses Net Income 67 38 89 30 91 92 93 Concord COMPANY Income Statement For Year Ended August 31 95 96 Net sales Expenses Page 3 Toulouses Net.com 98 99 100 101 102 103 104 Made income stmt +