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first 2 pics are the data & the other photos are the table layout! :) Valley Company's adjusted account balances from its general ledger on

first 2 pics are the data & the other photos are the table layout! :) image text in transcribed
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Valley Company's adjusted account balances from its general ledger 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 Check my we Credit Debit $ 35,000 140, eee $ 40,425 47,114 69,497 8,000 239,400 Adjusted Account Balances Merchandise inventory (ending) Other (noninventory) assets Total liabilities Common 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 3,663 15,800 92,945 32,798 2,873 20,349 29,925 2,873 958 $396,436 $396,436 Beginning merchandise inventory was $28.245. Supplementary records of merchandising activities for the year ended August 31 reveal the followina itemized costs. Check my work Beginning merchandise inventory was $28.245. 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 $102,900 2,161 4,939 3,990 ences 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. Complete this question by entering your answers in the tabs below. pod Required 1 Required 2 Required 3 Required 4 Compute the company's net sales for the year. sok Net Sales Sales ences Net sales Requited Required 2 > 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 Complete this question by entering your answers in the tabs below. ed Required 1 Required 2 Required 3 Required 4 k 1 Prepare a multiple-step income statement that includes separate categories for net sales, cost of goods sold, selling expenses, and general and administrative expenses. VALLEY COMPANY Income Statement For Year Ended August 31 ces 0 0 0 Experises

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