At the beginning of the current season on April 1, the ledger of Granite Hills Pro Shop showed Cash $3,045; Inventory $4,045; and Common Stock $7,090. The following transactions occurred during April 2017.

Apr. 5 Purchased golf bags, clubs, and balls on account from Arnie Co. $1,635, terms4/10, n/60.

7 Paid freight on Arnie Co. purchases $87.

9 Received credit from Arnie Co. for merchandise returned $335.

10 Sold merchandise on account to members $1,461, terms n/30.

12 Purchased golf shoes, sweaters, and other accessories on account from Woods Sportswear $905, terms1/10, n/30.

14 Paid Arnie Co. in full.

17 Received credit from Woods Sportswear for merchandise returned $105.

20 Made sales on account to members $883, terms n/30.

21 Paid Woods Sportswear in full.

27 Granted credit to members for clothing that did not fit properly $87.

30 Received payments on account from members $1,330.

1.) Journalize the April transactions using a periodic inventory system.

2.) Using T accounts, enter the beginning balances in the ledger accounts and post the April transactions.

3.) Prepare an trial balance on April 30, 2017.

4.) Prepare a income statement through gross profit, assuming inventory on hand at April 30 is $4,647.