Question 3 and 4 only please..

Chapter 4 Reporting and Analyzing Merchandising Operations Valley Company's adjusted trial balance on August 31, 2013, its fiscal year-end, follows. Debit Credit Merchandise inventory Other (noninventory) assets Total liabilities 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 $41,000 130,400 $ 25.000 0,000 94,550 8,000 225,600 2,250 2,000 74,500 32,000 8,000 1,500 3,000 28,500 3,600 400 Office supplies expense Totals .. $355,150 $355,150 On August 31, 2012, merchandise inventory was $25,400. Supplementary records of merchandising ac- tivities for the year ended August 31, 2013, reveal the following itemized costs. Invoice cost of merchandise purchases Purchase discounts received Purchase returns and allowances . . . . . . . . . 2,000 4,500 4,600 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. mnlete the following requirements