Compute the company's net sales for the year.Beginning merchandise inventory was $$27,842.$ Supplementary records of merchandising activities for the year ended

August $31$ reveal the following itemized costs.

Invoice cost of merchandise purchases $ $101,430$

Purchases discounts received $,2,130$

Purchases returns and allowances $4,869$

Compute the company's total cost of merchandise purchased for the year.

Prepare a multiple$-$step income statement that includes separate categories for net sales, cost of goods sold, selling expenses,

and general and administrative expenses.

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 net sales for the year.