Question 2: Barkley Company's adjusted trial balance on March 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. Beginning merchandise inventory was \$37,500. Supplementary records of merchandising activities for the year ended March 31 reveal the following itemired costs. a. Compute the company's net sales for the year. [3 Marks] b. Compute the company's total cost of merchandise purchased for the year. [3 Marks] c. Prepare an income statement that includes these expense categories: cost of goods sold, selling expenses, and general and administrative expenses. [4 Marks] Question 2: Barkley Company's adjusted trial balance on March 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. Beginning merchandise inventory was \$37,500. Supplementary records of merchandising activities for the year ended March 31 reveal the following itemired costs. a. Compute the company's net sales for the year. [3 Marks] b. Compute the company's total cost of merchandise purchased for the year. [3 Marks] c. Prepare an income statement that includes these expense categories: cost of goods sold, selling expenses, and general and administrative expenses. [4 Marks]