Listed below is the adjusted trial balance of Pants Company at the end of the year, December 31 DR CR Cash Accounts Receivable 250 Supplies 50 Prepaid Insurance Merchandise Inventory 174 Equipment 1,200 Accum Depe-Equip 200 Building 3,400 Accum Depe-Bldg 700 Land Accounts Payable 340 Salaries Payable 50 Interest Payable Long-Term Notes Payable Common Stock 1.300 Retained Gamings 2.330 Dividends Declared 980 Sales 18,700 Sales Returns & Allowances Sales Discounts 550 Cost of Goods Sold Expense 10.326 Selling Expenses 3.300 Administrative Expenses 2,160 Rent Reverse 70 Interest Expense 25.010 25.010 EEQUIRED - Compute the following amounts: 1. Income Statement Nei Sales Cost of Goods Sold Gross Profit Gross Profit Rate Total Operating Expenses Operating Income Net Income 2. Schedule of Cost of Goods Sold The following additional information is availae Beginning Inventory S160;Purchases $11,169 Purchese Returns and Allowances $1,180: Purchase Discounts S4M; and Freigh-In $780. Prepare a schedule of cost of goods sold: 3. Statement of Retained Earnings: Ending Retained Eaming 4 Balance Sheet: Current Assets Plant Assets Total Assets Current Liabilities 1.ceg-Term Liabilities Total Liabilities Total Stockholders' Equity Total Liabilities & Stockholders' Equity