The following amounts appeared on the Mullen Company’s adjusted trial balance in alphabetical order as of November 30, 2023, the end of its fiscal year:

A physical count shows that the cost of the ending inventory is $6,100.

Required
1. Calculate the company’s net sales for the year.
2. Calculate the company’s cost of goods purchased for the year.
3. Calculate the company’s cost of goods sold for the year.
4. Present a multiple-step income statement (like Exhibit 5.16) that lists the company’s net sales, cost of goods sold, and gross profit, as well as the components and amounts of selling expenses and general and administrative expenses.

5. Present a single-step income statement (like Exhibit 5.17) that lists these expenses: cost of goods sold, selling expenses, general and administrative expenses, and interest expense.

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Advertising expense... Interest expense.. Liabilities.............. Merchandise inventory... Mitsy Mullen, capital.. Mitsy Mullen, withdrawals... Other assets............... Purchase discounts........ Purchase returns and allowances.. Purchases............. Rent expense (75% selling)... Salaries expense (60% selling).. Sales.......... Sales discounts...... Sales returns and allowances..... Supplies expense (80% selling).. Transportation-in......... Totals...... Debit $ 3,000 350 5,600 10,000 144,650 120,000 38,000 62,000 Credit $ 31,000 113,800 1,150 4,050 276,000 2,350 28,500 6,700 4,850 $426,000 $426,000