Rusio Company€™s adjusted trial balance on August 31, 2009, its fiscal year-end, follows.

On August 31, 2008, merchandise inventory was $35,104. Supplementary records of merchandising activities for the year ended August 31, 2009, reveal the following itemized costs.
Invoice cost of merchandise purchases . . . . . . . . $127,890
Purchase discounts received . . . . . . . . . . . . . . . . . 2,685
Purchase returns and allowances . . . . . . . . . . . . . 6.138
Costs of transportation-in . . . . . . . . . . . . . . . . . . . 3,900
Required
1. Compute the company€™s net sales for the year.
2. Compute the company€™s total cost of merchandise purchased for the year.
3. Prepare a multiple-step income statement that includes separate categories for selling expenses and for general and administrative expenses.
4. Prepare a single-step income statement that includes these expense categories: cost of goods sold, selling expenses, and general and administrative expenses.

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Debit Credit S 43,500 174,000 Merchandise inventory. Other (noninventory) assets Total labilities Common stock .. Retained earnings .. Dividends 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 expense Totals 50,242 83481 58,555 8.000 297,540 4,552 19.637 114,571 40,762 13,984 3.570 25,290 37,192 3,570 1.190 $489,818 $489,818