[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. Beginning merchandise imventory was $29,456. Supplementary records of merchandising activies for the year ended August 3i reveal the following hemized costs 1. Compute the company's net saies for the year: 2. Compute the company's total cost of merchencise purchased for the year. 3. Prepare a multiple-step income statement that includes separate categories for net sales, cost of goods sold, selling expenses, end general and administrotive expenses: 4. Prepare a single-step income statement that includes these expense cotegories: cost of goods sold, seling expenses, and general and administrative expenses. Complete this question by entering your answers in the tabs below. Compote the companren net sales for the year