The following amounts appeared on the Mendelstein Company's adjusted trial balance as of October $31,2023,$ the end of its fiscal year:"Submit:$800$:$42$:$56$DebitCreditMerchandise inventory$$950$Other assets$31,000$Liabilities$ $27,340$eBookJoe Mendelstein, capital$36,970$Joe Mendelstein, withdrawals$2,100$Interest income$105$Sales$87,400$Sales returns and allowances$6,600$Sales discounts$1,035$Purchases$42,600$Purchase returns and allowances$1,700$Purchase discounts$810$Transportation$-$in$4,600$Sales salaries expense$16,900$Rent expense, selling space$8,300$Store supplies expense$2,300$Advertising expense$8,100$Office salaries expense$21,100$Rent expense, office space$6,700$Office supplies expense$2,040$Required:$1.$ Calculate the company's net sales for the year. Net sales$$\_\_\_\_\_\_\_\_$Help Save & ExitSubmit$800$:$42$:$45$eBook$2.$ Calculate the company's cost of goods purchased for the year.Cost of goods purchased$\_\_\_\_\_\_3.$ Calculate the company's cost of goods sold for the year.Present a multiple$-$step income statement that lists the company's net sales, cost of goods sold, and gross profit from sales$\mathrm{.}800$:$42$:$28$eBookMENDELSTEIN COMPANYIncome StatementFor Year Ended October $31,2023$Net sales$$93,895$Cost of goods sold$33,715$Gross profit from sales$$60,180$Operating expenses:Supplies expense$$6,700$Rent expense$21,100$Salaries expense$8,100$Advertising expense$2,300$Cost of goods sold$8,300$Total operating expenses$46,500$Other revenues and expenses:Interest revenue$2,1005.$ Present a condensed single$-$step income statement that lists these expenses: cost of goods sold, selling expenses, and general and administrative expenses$\mathrm{.}8000$:$42212$eBookMENDELSTEIN COMPANYIncome StatementFor Year Ended October $31,2023$Revenues:Total revenues$$0$Expenses:Total expenses