Valley Company's adjusted trial balance on August 31, 2015, its fiscal year-end, follows. Problem 5-3A Computing merchandising amounts and formatting income statements Debit Credit C2 P4 130,400 Other (noninventory) assets Total liabilities K. Valley, Capital K. Valley, Withdrawals Sales Sales discounts Sales returns and allowances Cost of goods sold Sales salaries expense Rent expense-Selling space Store supplies expense Advertising expense.. Office salaries expense Rent expense- Office space $ 25,000 04,550 8,000 225,600 2,250 12,000 74,500 32,000 8,000 1,500 13,000 28,500 3,600 400 . On August 31, 2014, merchandise inventory was $25,400. Supplementary records of merchandishm activities for the year ended August 31, 2015, reveal the following itemized costs. ce cost of merchandise purchases Purchase discounts received . Purchase returns and allowances. .. Costs of transportation-in... $92,000 2,000 4,500 4,600