Barkley companys adjusted trial balance on march 31 2013

Question

Barkley Company's adjusted trial balance on March 31, 2013, its fiscal year end, follows.

On March 31, 2012, merchandise inventory was $ 37,500. Supplementary records of merchandising activities for the year ended March 31, 2013, reveal the following itemized costs.
Invoice cost of merchandise purchases . . . . . . . . $ 138,500
Purchase discounts received . . . . . . . . . . . . . . . . . 2,950
Purchase returns and allowances . . . . . . . . . . . . . 6,700
Costs of transportation in . . . . . . . . . . . . . . . . . . 5,750

Required: 

1. Calculate the company's net sales for the year. 

2. Calculate 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 administrativeexpenses.