mework Swed Help Valley Company's adjusted trial balance on August 31. Its fiscal year-end. follows. It categorizes the following accounts as selling expenses sales salaries expense, rent expense-selling space, store supples expense, and advertising expense. It categorizes the remaining expenses as general and administrative. Debit Credit Merchandise inventory (ending) $.33,500 Other (noninventory) assets 134,600 Total liabilities $ 38,693 Connon stock 45, Retained earnings 67,029 Dividends 8.000 Sales 229, 140 Sales discounts 3,506 Sales returns and allowances 15,123 Cost of goods sold 89.129 Sales salaries expense 31,992 Rent expense-Selling space 10,770 Store supplies expense 2.758 Advertising expense 19,477 office salaries expense 28,643 Rent expense-office space 2.750 Office supplies expense 917 Totals $379,957 $379,957 Beginning merchandise inventory was $27035. 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 $98,490 2,068 4,728 3.900 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-stop income statement that includes these expense categories: cost of goods sold, selling expenses, and general and administrative expenses