Ali companys adjusted trial balance on August 31, it's fiscal year end, follows. It category eyes is the following accounts as selling expenses sales salaries expense rent expense selling space store supplies expense and advertising expense. It category as is the remaining expenses as general and administrative.

Valley 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 supplies expense, and advertising expense. It categorizes the remaining expenses as general and administrative Credit Debit $ 44,5 178,000 $ 51,398 59,982 85,131 D300 384,388 Merchandise inventory (ending) Other (noninventory) assets Total liabilities Connon stock Retained earnings Dividends Sales Sales discounts Sales returns and allowances Cost of goods sold Sales salaries expense Rent expense-selling space Store Supplies expense Advertising expense Office salaries expense Rent expense-office space Office supplies expense Totals 4,657 28,089 117,115 41,700 14,306 3,653 25,872 38,048 3,653 1,218 $509,811 $500,811 Beginning merchandise inventory was $35,912. Supplementary records of merchandising activities for the year ended August 31 reveal the following itemized costs Invoice cost of merchandise purchases Purchases discounts received Purchases returns and allowances Costs of transportation in 5130,830 2,747 6,280 3,900 Required: search 0 09 Required: 1. Compute the company's net sales for the year. 2. 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 goods sold, selling e general and administrative expenses. 4. Prepare a single-step income statement that includes these expense categories: cost of goods sold, selling expenses, and administrative expenses. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Compute the company's net sales for the year. Net Sales Sales Net Sales Required 2 > meducation.com/exmap/index.html?con con external browser=U&launchUrl=https%253A%252F%252Fearnliberty.edu.x252Fwebappsh252Fportal25275 4 Problems Sved Required: 1. Compute the company's net sales for the year 2. 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 goods sold, selling expenses, and 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 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Compute the company's total cost of merchandise purchased for the year. Cost of Merchandise Purchased Invoice cost of merchandise purchased Purchases discounts received Purchases returns and allowances Costs of transportation in Total cost of merchandise purchased VALLEY COMPANY Income Statement For Year Ended August 31 Expenses Selling expenses Total selling expenses General and administrative expenses Total general and administrative expenses Total expenses LE l.com map/index.html?_con=condtexternal browser 0 launchUrlhttps%253A F%252Fear.liberty.edu%252Fwebapps/6252Fportar Problems 4. Prepare a single-step income statement that includes these expense categories: cost of goods sold, selling expenses, and gene and administrative expenses. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Prepare a single-step income statement that includes these expense categories: cost of goods sold, selling expenses, and general and administrative expenses. VALLEY COMPANY Income Statement For Year Ended August 31 Expenses Total expenses