Sales discounts The following select account data is taken from the records of Reese Industries for 2019. Sales Merchandise inventory $640,363 582,620 58,040 Interest expense 3,677 Sales returns and allowances 90,232 Interest revenue 10,268 Cost of goods sold 224,598 Rent expense 15,080 Depreciation expense: office equipment 3,200 Insurance expense 2,450 Advertising expense 12,906 Accounts receivable 100,440 Office supplies expense 1,600 Rent revenue 23,622 Sales salaries expense 30,410 Accounts payable Common stock 135,404 59,419 Marketing expense 31,000 a. Use the data provided to compute net sales for 2019. b. Prepare a simple income statement for the year ended December 31, 2019. c. Compute the gross margin for 2019. d. Prepare a multi-step income statement for the year ended December 31, 2019. The following select account data is taken from the records of Carnival Express for 2019. Sales Merchandise inventory Accounts receivable Office supplies expense Rent revenue Sales salaries expense Accounts payable Common stock Marketing expense Sales discounts $790,866 465,000 115,509 2,312 42,900 65,300 158,234 80,963 25,450 62,750 Interest expense 5,444 Sales returns and allowances 100,043 Interest revenue 12,321 Cost of goods sold 295,840 Rent expense 12,678 Depreciation expense: office equipment 4,210 Insurance expense 2,000 Advertising expense 14,650 a. Use the data provided to compute net sales for 2019. b. Prepare a simple income statement for the year ended December 31, 2019. c. Compute the gross margin for 2019. d. Prepare a multi-step income statement for the year ended December 31, 2019