At the beginning of the current season on April 1, the ledger of Sandhill Pro Shop showed Cash $3,045; Inventory $4,045; and Common Stock $7,090. The following transactions occurred during April 2022. Apr. 5 7 Purchased golf bags, clubs, and balls on account from Arnie Co. $1,635, terms 4/10, n/60. Paid freight on Arnie Co. purchases $87. Received credit from Arnie Co. for merchandise returned $335. 9 10 12 Sold merchandise on account to members $1,461, terms n/30. Purchased golf shoes, sweaters, and other accessories on account from Woods Sportswear $905, terms 1/10, n/30. Paid Arnie Co. in full. 14 17 Received credit from Woods Sportswear for merchandise returned $105. Made sales on account to members $883, terms n/30. 20 21 Paid Woods Sportswear in full. Granted credit to members for clothing that did not fit properly $87. 27 30 Received payments on account from members $1,330. SANDHILL PRO SHOP Income Statement (Partial)