Required Information [The following Information applies to the questions displayed below] Valley Company's adjusted account balances from Its general ledger on August 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. Adjusted Account Balances Merchandise inventory (ending) Other (non-inventory) assets Total liabilities Common stock Retained earnings Debit $ 36,500 Credit 146,000 $ 42,158 71,965 49,133 Dividends 8,000 Sales 249,660 Sales discounts 3,820 Sales returns and allowances 16,478 Cost of goods sold 96,761 Sales salaries expense 34,203 Rent expense-Selling space 11,734 Store supplies expense 2,996 Advertising expense 21,221 Office salaries expense Rent expense-Office space Office supplies expense. Totals 31,208 2,996 999 $ 412,916 $ 412,916