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DONALD RUDDY COMPANY Adjusted Account Balances For the Year Ended December 31 20XXAccounts Payable $ 5060Accounts Receivable 5340Accumulated Depreciation Office Equipment 400Advertising Expense 210Allowance for Doubtful Accounts 300Cash 7170Depreciation Expense Office Equipment 200Insurance Expense 140Merchandise Inventory January 1 20XX 5000Notes Payable 1000Office Equipment 2000Office Supplies 90Office Supplies Expense 210Prepaid Insurance 190Purchases 40000Purchase Discounts 170Purchase Returns and Allowances 500Rent Expense 1500Ruddy Capital 4100Ruddy Drawing 250Salaries Expense 8055Salaries Payable 550Sales 60380Sales Discounts 200Sales Returns and Allowances 350Taxes Payable 420Transportation-in 250Utilities Expense 385Vehicle 1340Note: The ending merchandise inventory on December 31 20XX was $3000.1. The cost of goods sold is A. $44580. C. $38580. B. $41580. D. $33580.2. The net cost of purchases are A. $39080. C. $39750. B. $39580. D. $39830.3. The cost of goods available for sale is A. $39080. C. $41580. B. $39330. D. $44580.4. Net sales for the period amount to A. $59830. C. $60380. B. $60180. D. $60930.5. What are the total operating expenses? A. $10105 C. $10700 B. $10490 D. $11000

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