unker$$s Stash started the Year $2$ accounting period with the balances given in the following horizontal financial statements model. During Year $2,$ Junker$$s Stash experienced the following business events: Answer is not complete.

Complete this question by entering your answers in the tabs below.

Required $A$

Required $B$

Prepare a multistep income statement. Include common size percentages on the income statement.

Note: Round your answers to $1$ decimal place.

$\backslash$table$[[$JUNKER$\text{'}$S STASH$],[$Income Statement$],[$For the Year Ended December $31,$ Year $2],[$Net sales,grad,,$\_(84,756\mathrm{.}0)^($$$)\backslash$times $,100\mathrm{.}0$vv$,\%],[$Cost of goods sold,grad,,$46,040\mathrm{.}0,54\mathrm{.}3\backslash$times $,\%],[$Gross margin,$2,,38,716\mathrm{.}0,45\mathrm{.}7,\%],[$Operating expenses$],[$Selling and administrai,$(,$$$7,125\mathrm{.}0,,8\mathrm{.}4,\%],[$Transportation$-$out,grad,$3,380\mathrm{.}0\backslash$times $,,4\mathrm{.}0\backslash$times $,\%],[$Total operating expenses,,,$10,505\mathrm{.}0,12\mathrm{.}4,\%],[$Operating income,grad,,$28,211\mathrm{.}0,33\mathrm{.}3,\%],[$Non$-$operating items$],[$Gain on sale of land,x$,,9,650\mathrm{.}0\backslash$times $,11\mathrm{.}4\backslash$times $,\%],[$Net income,grad,,$\backslash$table$[[$$$],[18,561\mathrm{.}0]],21\mathrm{.}9,\%]]$

$1.$ Paid cash to purchase $$81,000$ of merchandise inventory.

$2.$ The goods that were purchased in Event $1$ were delivered FOB destination. Transportation costs of $$1,620$ were paid in cash by the responsible party.

$3$a$.$ Sold merchandise for $$88,500$ under terms $1/10,$ n$/30.$

$3$b$.$ Recognized $$47,400$ of cost of goods sold.

$4$a$.$ Junker$$s Stash customers returned merchandise that was sold for $$2,320.$

$4$b$.$ The merchandise returned in Event $4$a had cost Junker$$s Stash $$1,360.$

$5.$ The merchandise in Event $3$a was sold to customers FOB destination. Transportation costs of $$1,760$ were paid in cash by the responsible party.

$6$a$.$ The customers paid for the merchandise sold in Event $3$a within the discount period. Recognized the sales discount.

$6$b$.$ Collected the balance in the accounts receivable account.

$7.$ Paid cash of $$7,125$ for selling and administrative expenses.

$8.$ Sold the land for $$9,650$ cash.

B: determine the amount of net sales. $\backslash$table$[[$JUNKER$\text{'}$S STASH$],[$Financial Statements Model$],[\backslash$table$[[$Event$],[$Number$]],$Balance Sheet,Income Statement,$\{$

$\backslash$table$[[$Statement of Cash$],[$Flow$]]\}],[$Assets$,$Stockholders' Equity,$\backslash$table$[[$Revenue$/],[$Gain$]],-,\backslash$table$[[$Expense$/],[$Loss$]],=,\backslash$table$[[$Net$],[$Income$]]],[$Cash$,+,\backslash$table$[[$Accounts$],[$Receivable$]],+,$Inventory,$+,$Land,$=,\backslash$table$[[$Common$],[$Stock$]],+,\backslash$table$[[$Retained$],[$Earnings$]]],[\backslash$table$[[$Beginning$],[$balance$]],91,000,+,,+,16,100,+,13,200,=,81,000,+,39,300,,-,,=,,,],[1.,(81,000),+,0$o$.,+,81,000,+,0$vv$,=,0$o$.,+,0$o$.,0$o$.,-,0,=,0$o$.,(81,000)$vv$,$OA$],[2.,0,2,-2,+,0,+,0,+,0$sub,$=,00,+,00,00,-,0,,=,00,0,],[3$b$.,0,2,-2,+,0,+,(47,400),+,0$sub,$=,00,+,(47,400),00,-,47,400,=,(47,400),0,],[4$a$.,0-2+2-1,+,(2,320),+,0$o$.,+,0$vv$,=,0$o$.,+,(2,320),(2,320),-,0,2,-,-1,=,(2,320),0$o$.,],[4$b$.,,0,2,-2,+,0,+,1,360,+,0$vv$,=,00,+,1,360,00,-,(1,360),=,1,360,0,],[5.,,(1,760),+,0$o$.,+,0$o$.,+,0$vv$,=,0$o$.,+,(1,760),0$o$.,-,1,760,=,(1,760),(1,760)$vv$,$OA$],[6$a$.,00,+,(862),+,00,+,0$C$,=,00,+,(862),(862),-,00,=,(862),0,],[6$b$.,85,318,+,(85,318),+,0$o$.,+,0$o$.,=,0$o$.,+,00,0$o$.,-,0,=,00,85,318,$OA$],[7.,(7,125),+,0,+,0,+,0$vv$,=,0,+,(7,125),0,-,7,125,=,(7,125),(7,125),$OAvv$],[8.,9,650,+,00,+,0,+,(13,200),=,0,+,(3,550),0,-,3,550,=,(3,550),9,650,$IA$],[$Ending balance,$96,083,+,0,+,51,060,+,0,=,81,000,+,66,143,85,318,-,58,475,=,26,843,5,083,]]$