Can someone please help with this project, please show the calculations and how you got the numbers so I can match them up with mine. I posted this question before but the person who answered made it confusing to read. Thank you so much!

Group Project 2 2 Your sister operates Hercules Parts Company, a mail order boat parts distributorship that 3 is in its third year of operations. The following is the single step income statement 4 for the year ended December 31,2016 Hercules Parts Company Income Statement Year Ended December 31, 2016 8 Revenues 9 Net sales revenue $600,000 10 Expenses Cost of goods sold Sales salaries expense Freight out expense (shipping charges) Advertising Expense Office salaries expense Office supplies expense Interest Expense S 420,000 S38,850 20,00000 7,000.00 S 31,200 S 2,800.00 S 10,000.00 12 13 14 15 16 17 18 Total Expenses 19 Net Income $529,850 S 70,150 21 Your sister had the following inventory balances 22 1/01/16 s 38,00000 S 44,000.00 3 12/31/16 S 18,000.00 24 Projected inventory as of 12/31/17 25 26 Your sister is considering a proposal to increase net income by offering their sales representatives a salary commission on every unit they sell This should help increase sales. They also will be able to 28 bargain for a better purchase price for their inventory, control their inventory more efficiently by adopting 29 just-in-time inventory and by shipping all merchandise FOB Shipping Point Presently, all merchandise 30 is shipped FOB Destination. (Assume that the interest expense will remain the same in 2017) t is estimated that more creative marketing (in 2017) wil enable Hercules to have a 20% increase in the 3 Net Sales they had in 2016 by attracting new customers 34 Assume the new shipping terms (in 2017) wil cause Hercules to have 15% decrease in the Net sales they had in 2016 Due to intense negotiations Hercules was able to reduce the cost of goods sold to 65% of Net Sales Assume that Sales Salaries Expense. Advertisina Expense. Office Salaries Expense and Sheetl Sheet2 Sheet3 peess ENTER or