Valley Company's adjusted trial balance 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, advertising expense. It categorizes the remaining expenses as general and administrative, CHI Debit $ 38,000 152.000 $ 43,890 125,585 8,000 259.920 Merchandise Inventory (ending) Other Croninventory) assets Total abilities Ku Valley, Capital 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 office supplies extense Total 3,977 17, 155 180,577 35,609 12, 216 3.119 22,093 32,490 3,119 $429,395 $429,395 Beginning merchandise Inventory was $30.666. Supplementary records of merchandising activities for the year ended August 31 reveal the following itemized costs. Irroide costuras Purchases discounted Picture and all COALS U trasuri $112.72 046 BUS IND Required: compute the company's net sales for the year 21-ompute the company's total cost of merchandise purchased for en 3. Prepare a multipleteo income statement that the separate categories for sale general and administrative expenses 4. Pretep income statement thing the paneles and expenses ses and fes and gener Complete this question by entering your answers in the tabs below