Alpharack Company sells a line of tennis equipment to retailers. Alpharack uses the perpetual inventory system and engaged in the following transactions during April 2009, its first month of operations:
a. On April 2, Alpharack purchased, on credit, 320 Wilbur T-100 tennis rackets with credit terms of 2/10, n/30. The rackets were purchased at a cost of $30 each. Alpharack paid Barker Trucking $150 to transport the tennis rackets from the manufacturer to Alpharack's warehouse, shipping terms were F.O.B. shipping point, and the items were shipped on April 2.
b. On April 3, Alpharack purchased, for cash, 150 packs of tennis balls for $10 per pack.
c. On April 4, Alpharack purchased tennis clothing, on credit, from Designer Tennis Wear. The cost of the clothing was $8,000. Credit terms were 2/10, n/25.
d. On April 10, Alpharack paid for the purchase of the tennis rackets in (a).
e. On April 15, Alpharack determined that $500 of the tennis clothing was defective. Alpharack returned the defective merchandise to Designer TennisWear.
f. On April 20, Alpharack sold 100 tennis rackets at $90 each, 100 packs of tennis balls at $12 per pack, and $4,000 of tennis clothing. All sales were for cash. The cost of the merchandise sold was $5,450.
g. On April 23, customers returned $575 of the merchandise purchased on April 20. The cost of the merchandise returned was $300.
h. On April 25, Alpharack sold another 50 tennis rackets, on credit, for $90 each and 25 packs of tennis balls at $12 per pack, for cash. The cost of the merchandise sold was $2,000.
i. On April 29, Alpharack paid Designer Tennis Wear for the clothing purchased on April 4 less the return on April 15.
j. On April 30, Alpharack purchased 20 tennis bags, on credit, from Bag Designs for $320. The bags were shipped F.O.B. destination and arrived at Alpharack on May 3.

Required:
1. Prepare the journal entries to record the sale and purchase transactions for Alpharack during April 2009.
2. Assuming operating expenses of $8,500, prepare Alpharack's income statement for April 2009. (Ignore income tax expense.)