Junker's Stash started the Year accounting period with the balances given in the following horizontal financial statements model During Year 2. Junker's Stash experienced the following business events:

1. Paid cash to purchase $77,000 of merchandise inventory

2. The goods that were purchased in Event 1 were delivered destinationTransportation costof $1.540 were paid in by the responsible party

3a.Sold merchandise for $82,500 under terms 1/10, n/30

3b.Recognized $45,400 of cost of goods sold 4aJunker's Stash customers returned merchandise that was sold for $2,240

4b.The merchandise returned in Event had cost Junker's Stash 1,320

5.The merchandise in Event was sold to customers FOB destinationTransportation costs of $1,720 were paid in cash by the

party 6a. The customers paid for the merchandise sold in Event 3a within the discount period. Recognized the sales discount. 6b. Collected the balance in the accounts receivable account.

7. Paid cash of $ 7,025 for selling and administrative expenses .

8. Sold the land for $9,450 cash.

Rose owns Rose Sporting Goods. At the beginning of the year, Rose Sporting Goods had $2,500 in Inventory. During the year Rose Sporting Goods purchased Inventory that cost $13,100. At the end of the yearinventory on hand amounted to $3,700

Tippah Antiques uses the periodic inventory system to account for its inventory transactions. The following account titles and balances were drawn from Tippah's records for Year 2: beginning balance in inventory, $25,000purchases, $306,900purchase returns and allowances, $13,100sales, $726,000; sales returns and allowances$6,310; transportation-in$1,860and operating expenses $51,600. A physical count indicated that $24,900 of merchandise was on hand at the end of the accounting period

a. Prepare a schedule of cost of goods sold. repare a multistep income statement. Include common size percentages on the income statement. lote: Round your answers to 1 decimal place. b. Prepare a multistep income statement. Complete this question by entering your answers in the tabs below. The return-on-sales ratio for Junker's Stash during the prior year was 12 percent. Based on the common size data in the income statement, did the expenses for Junker's Stash increase or decrease in Year 2? Assume sales are the same for both years. Did the expenses for Junker's Stash increase or decrease in Year 2? ome Statement \begin{tabular}{|c|c|c|c|c|} \hline Expensel & = & Net Income & \multicolumn{2}{|c|}{\begin{tabular}{c} Statement of Cash \\ Flow \end{tabular}} \\ \hline & = & & & \\ \hline & = & & & \\ \hline & = & & & ? \\ \hline & = & & & 7 \\ \hline & = & & & {[} \\ \hline & = & & . & P \\ \hline & = & & & \\ \hline & = & & & \\ \hline & = & & & P \\ \hline & = & & & 7 \\ \hline & = & & & \\ \hline & = & & & \\ \hline 0 & = & 0 & 0 & \\ \hline \end{tabular} etermine the amount of net sales. Note: Round your intermediate calculations and final answer to 1 decimal place. a. Calculate the cost of goods available for sale during the year. b. Calculate the cost of goods sold for the year. c. Calculate the amount of inventory Rose Sporting Goods would report on its year-end balance sheet. JUNKER'S STASH