II The following balances were taken from the trial balance of Sss Company at the year-end: Peso (Php) 1,000 15,000 12,000 9,000 7,000 3,000 6,000 4,000 2,000 8,000 10,000 5,000 20,000 120,000 75,000 90,000 400,000 900,000 Accounts Required: Miscellaneous Expense Utilities Expense Solve for the following accounts: Freight-in 1. Gross Purchases Net Purchases Cost of Goods Available for Sale (COGAS) Cost of Goods Sold Gross Profit Operating Income (earnings before interest and taxes) Net Income (earnings after tax) Purchase Discounts 2. 3. 4. 5. 6. Representation Expense Purchase Returns Freight-out Sales Discounts Insurance Expense Sales returns and Allowances Depreciation Expense Supplies Expense Interest Income Salaries Expense Inventory, encd Inventory,beginning Purchases Sales 7