At the beginning of Year 2, the Redd Company had the following balances in its accounts: Cash
Inventory
Common stock
Retained earnings
$8,500
2,500
8,000
3,000
During Year 2, the company experienced the following events:
1. Purchased inventory that cost $6,000 on account from Ross Company under terms 2/10, n/30. The merchandise was
delivered FOB shipping point. Transportation costs of $550 were paid in cash.
2. Returned $400 of the inventory it had purchased because the inventory was damaged in transit. The seller agreed to
pay the return transportation cost.
3. Paid the amount due on its account payable to Ross Company within the cash discount period.
4. Sold inventory that had cost $6,500 for $9,500 on account, under terms 2/10, n/45.
5. Received merchandise returned from a customer. The merchandise originally cost $550 and was sold to the customer
for $850 cash. The customer was paid $850 cash for the returned merchandise.
6. Delivered goods FOB destination in Event 4. Transportation costs of $650 were paid in cash.
7. Collected the amount due on the account receivable within the discount period.
8. Took a physical count indicating that $2,200 of inventory was on hand at the end of the accounting period.
c-1. Prepare a multistep income statement.
c-2. Prepare a statement of changes in stockholders' equity.
c-3. Prepare a balance sheet.
c-4. Prepare a statement of cash flows.
Need these completed^^ thank you!!