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7 9 At the beginning of the current season on April 1, the ledger of Sheridan Pro Shop showed Cash $3,070; Inventory $3,500; and Common

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7 9 At the beginning of the current season on April 1, the ledger of Sheridan Pro Shop showed Cash $3,070; Inventory $3,500; and Common Stock $6,570. The following transactions were completed during April 2022. Apr. 5 Purchased golf bags, clubs, and balls on account from Arnie Co. $2,600, terms 2/10, 1/60. Paid freight on Arnie purchase $80. Received credit from Arnie Co.for merchandise returned $300. Sold merchandise on account to members $1,440, terms n/30. The merchandise sold had a cost of $810. Purchased golf shoes, sweaters, and other accessories on account from Woods Sportswear $970, terms 2/10,n/30. Paid Arnie Co. in full Received credit from Woods Sportswear for merchandise returned $70. Made sales on account to members $850, terms /30. The cost of the merchandise sold was $550. Paid Woods Sportswear in full. Granted an allowance to members for clothing that did not fit properly $80. Received payments on account from members $1,470. 10 12 14 17 20 21 27 30 Prepare an income statement through gross profit for the month of April 2022 SHERIDAN PRO SHOP Income Statement (Partial)

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