At the beginning of Year 2, the Redd Company had the following balances in its accounts: Cash 7,600 Inventory 1,600 Common stock 7,100 Retained earnings 2,100 During Year 2, the company experienced the following events: Purchased inventory that cost $5,100 on account from Ross Company under terms 2/10, n/30. The merchandise was delivered FOB shipping point. Transportation costs of $460 were paid in cash. Returned $300 of the inventory it had purchased because the inventory was damaged in transit. The sell