At the beginning of the current season, the ledger of Everett Tennis Shop showed Cash $2,500; Inventory $1,700; and Common Stock $4,200. The following transactions were completed during April. Apr. 4 Purchased racquets and balls from Riggs Co. $740, terms 3/10, n/30. 6 Paid freight on Riggs Co. purchase $60. 8 Sold merchandise to customers $900, terms n/30. 10 Received credit of $40 from Riggs Co. for a racquet that was returned. 11 Purchased tennis shoes from King Sports for cash $300. 13 Paid Riggs Co. in full. 14 Purchased tennis shirts and shorts from BJ Sportswear $700, terms 2/10, n/60. 15 Received cash refund of $50 from King Sports for damaged merchandise that was returned. 17 Paid freight on BJ Sportswear purchase $30. 18 Sold merchandise to customers $1,000, terms n/30. 20 Received $500 in cash from customers in settlement of their accounts. 21 Paid BJ Sportswear in full. 27 Granted an allowance of $25 to customers for tennis clothing that did not fit properly. 30 Received cash payments on account from customers $550. The chart of accounts includes Cash, Accounts Receivable, Inventory, Accounts Payable, Common Stock, Sales Revenue, Sales Returns and Allowances, Purchases, Purchase Returns and Allowances, Purchase Discounts, and Freight-In. Instructions (a) Journalize the April transactions using a periodic inventory system. (c) Trial balance total $6,225 Gross profit $766 (b) Using T-accounts, enter the beginning balances in the ledger accounts and post the April transactions. (c) Prepare a trial balance on April 30, 2017. (d) Prepare an income statement through gross profit, assuming inventory on hand at April 30 is $2,296.