[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 Connon stock Retained earnings Debit $ 36,000 Credit 144,000 $ 41,580 71,141 48,460 Dividends 8,000 Sales 246,240 Sales discounts 3,767 Sales returns and allowances 16,252 Cost of goods sold 95,489 Sales salaries expense 33,735 Rent expense-Selling space 11,573 Store supplies expense 2,955 Advertising expense 20,930 office salaries expense 30,780 2,955 985 $ 407,421 Rent expense-office space office supplies expense Totals 5 407,421 Beginning merchandise inventory was $29,052 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 $ 105,840 2,223 5,080 3,900 Problem 4-3A (Alao) Computing merchandising amounts and formenting Innan