Please answer requirement 7 and 8. thanks

Comprehensive Problem The Accounting Cycle for a Merchandiser, Including Inventory Valuation Bike World, Inc., wholesales a line of custom road bikes. Bike World's inventory, as of November 30, 2014, consisted of 22 mountain bikes costing $1,650 each. Bike World's trial balance as of November 30 appears as follows Bike World, Inc. Trial Balance November 30, 2014 ACCOUNT Cash Accounts Receivable Inventory Supplies Office Equipment Accumulated Depreciation, Office Equipment Accounts Payable Note Payable, Long-Term Common Stock Retained Earnings Dividends Sales Revenue Sales Returns and Allowances Sales Discounts DEBIT CREDIT $ 9,150 12,300 36,300 900 18,000 3,000 1,325 5,000 8,500 21,425 4,250 150,950 1,700 1,275