At the beginning of Year 2, the Redd Company had the following balances in its accounts: During Year 2, the company expetienced the following events 1. Purchased inventory that cost $5,200 on account from Ross Company under terms 2/10,n/30. The merchandise was delivered FOB shipping point. Freight costs of $470 were paid in cash 2. Returned $400 of the inventory that it had purchased because the inventory was damaged in transit The seller agreed to pay the return freight cost 3. Paid the amount due on its account poyable to Ross Company within the cash discount period 4. Sold inventory that had cost $5,700 for $8,700 on account, under terms 2/10,n/45 5. Recelved merchandise returned from a customer. The merchandise originally cost $470 and was sold to the customet for $770 cash. The customer was paid $770 cash for the retumed merchandise 6. Delivered goods FOB destination in Event 4. Freight costs of $570 were paid in cashle 7. Collected the amount due on the account receivable within the discount period 8. Took a physical count indicating that 51,400 of imventory was on hand at the end of the accounting period 2 0Requiredinformation \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|c|} \hline \multirow{3}{*}{ Evert } & \multicolumn{6}{|c|}{ Balance Sheer } & \multicolumn{3}{|c|}{ Inconice Statement } & \multirow{3}{*}{\multicolumn{2}{|c|}{\begin{tabular}{l} Statoment of Cash \\ Flows \end{tabular}}} \\ \hline & \multicolumn{3}{|c|}{ Assets } & & \multirow{2}{*}{\multicolumn{2}{|c|}{\begin{tabular}{l} Slockholdoro' Equily \\ Common + Rothilied \end{tabular}}} & \multirow{2}{*}{ Rovenue } & \multirow{2}{*}{ Expenases } & \multirow{2}{*}{\begin{tabular}{l} Not \\ Incorme \end{tabular}} & & \\ \hline & cash & \begin{tabular}{l} - Accounts \\ Recilinati \end{tabular} & \begin{tabular}{l} Morchandisise \\ tiventiony \end{tabular} & & & & & & & & \\ \hline Bal & 7,70 & & 1700 & & 7.200 & 2200 & & & & & \\ \hline 1a & & & & & & = & & & & & \\ \hline ib & & & & & & & & & + & & \\ \hline 2 & & & & & & A & = & & & 0 & \\ \hline 3 & & & & & & & & & & & \\ \hline 4a & & & & & & & & & & & \\ \hline 4b & & & & & & & & + & & & \\ \hline 50 & & & & & & & -1 & & & & \\ \hline 5b & & & & & = & & 5 & & & & \\ \hline75 & & - & f. & & - & & & & - & & \\ \hline 8 & & - & & - & & 8 & & & =1 & & \\ \hline BAI & & & & & & & & & w & & 27 \\ \hline \end{tabular} At the beginning of Year 2, the Redd Company had the following balances in its accounts: During Year 2, the company expetienced the following events 1. Purchased inventory that cost $5,200 on account from Ross Company under terms 2/10,n/30. The merchandise was delivered FOB shipping point. Freight costs of $470 were paid in cash 2. Returned $400 of the inventory that it had purchased because the inventory was damaged in transit The seller agreed to pay the return freight cost 3. Paid the amount due on its account poyable to Ross Company within the cash discount period 4. Sold inventory that had cost $5,700 for $8,700 on account, under terms 2/10,n/45 5. Recelved merchandise returned from a customer. The merchandise originally cost $470 and was sold to the customet for $770 cash. The customer was paid $770 cash for the retumed merchandise 6. Delivered goods FOB destination in Event 4. Freight costs of $570 were paid in cashle 7. Collected the amount due on the account receivable within the discount period 8. Took a physical count indicating that 51,400 of imventory was on hand at the end of the accounting period 2 0Requiredinformation \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|c|} \hline \multirow{3}{*}{ Evert } & \multicolumn{6}{|c|}{ Balance Sheer } & \multicolumn{3}{|c|}{ Inconice Statement } & \multirow{3}{*}{\multicolumn{2}{|c|}{\begin{tabular}{l} Statoment of Cash \\ Flows \end{tabular}}} \\ \hline & \multicolumn{3}{|c|}{ Assets } & & \multirow{2}{*}{\multicolumn{2}{|c|}{\begin{tabular}{l} Slockholdoro' Equily \\ Common + Rothilied \end{tabular}}} & \multirow{2}{*}{ Rovenue } & \multirow{2}{*}{ Expenases } & \multirow{2}{*}{\begin{tabular}{l} Not \\ Incorme \end{tabular}} & & \\ \hline & cash & \begin{tabular}{l} - Accounts \\ Recilinati \end{tabular} & \begin{tabular}{l} Morchandisise \\ tiventiony \end{tabular} & & & & & & & & \\ \hline Bal & 7,70 & & 1700 & & 7.200 & 2200 & & & & & \\ \hline 1a & & & & & & = & & & & & \\ \hline ib & & & & & & & & & + & & \\ \hline 2 & & & & & & A & = & & & 0 & \\ \hline 3 & & & & & & & & & & & \\ \hline 4a & & & & & & & & & & & \\ \hline 4b & & & & & & & & + & & & \\ \hline 50 & & & & & & & -1 & & & & \\ \hline 5b & & & & & = & & 5 & & & & \\ \hline75 & & - & f. & & - & & & & - & & \\ \hline 8 & & - & & - & & 8 & & & =1 & & \\ \hline BAI & & & & & & & & & w & & 27 \\ \hline \end{tabular}