1. Use the data provided to compute net sales for 2019.
2. Prepare a simple income statement for the year ended December 31, 2019.
3. Compute the gross margin for 2019.
4. Prepare a multi-step income statement for the year ended December 31, 2019.

\begin{tabular}{lr} Sales & $790,866 \\ Merchandise inventory & 465,000 \\ Accounts receivable & 115,509 \\ Office supplies expense & 2,312 \\ Rent revenue & 42,900 \\ Sales salaries expense & 65,300 \\ Accounts payable & 158,234 \\ Common stock & 80,963 \\ Marketing expense & 25,450 \\ Sales discounts & 62,750 \\ Interest expense & 5,444 \\ Sales returns and allowances & 100,043 \\ Interest revenue & 12,321 \\ Cost of goods sold & 295,840 \\ Rent expense & 12,678 \\ Depreciation expense: office equipment & 4,210 \\ Insurance expense & 2,000 \\ Advertising expense & 14,650 \end{tabular}