can some please help with impact on income page. thank you.

Prepare joumal entries to record the following merchandising transactions of Turner's, which uses the perpetual inventory system and the gross method. July 1 Purchased merchandise from Griffin Company for $10,400 under credit terms of 1/15, n/3e, f0B shipping point, invoice dated July 1. Juty 2 Sold berchandise to witson Company for $3,100 under credit terms of 2/10,n/60, FOB shipping point, invoice dated July 2. The merchandise had cost $1,860. July 3 paid $1,0es cash for freight charges on the purchase of July 1. July 8 sold merchandise that had cost $3,780 for $6,100 cash. Juty 9 Purchased merchandise from Lee Company for $4,400 under credit terns of 2/15, n/6e, FOB destination, invoice dated July 9. July 11 Returned $990 of merchandise purchased on July 9 fron Lee Company and debited its account payable for that anount. July12 Received the balance due fron Wilson Company for the invoice dated July 2 , net of the discount. July 16 Paid the balance due to Griffin Conpany within the discount period. July 19 Sold nerchandise that cost $3,900 to Garcia Conpany for $5,680 under credit terms of 2/15, n/6e, Foe shipping point, invoice dated July 19. July 21 Gave a price reduction (allowance) of $1,100 to Garcia Company for nerchandise sold on July 19 and credited Garcia's accounts receivable for that anount. July 24 Paid Lee Company the balance due, net of discount. July 30 Received the balance due from Garcia Company for the invoice dated July 19, net of discount. July 31 Sold merchandise that cost $6,89e to Wilson Company for $11,400 under credit terms of 2/10, n/6e, F0e shipping point, invoice dated July 31 . Journalize the merchandising transactions. The General Ledger, trial balance, and schedules of accounts receivable and accounts payable will be updated based on your entries. ter 5Hc Prepare journal entries to record the following merchandising transactions of Turner's, which uses the perpetual inventory system and the gross method. July 1 Purchased merchandise from Griffin Company for $16,400 under credit terns of 1/15, n/30, FOB shipping point, invoice dated July 1. July 2 Sold merchandise to Wilson Company for $3,100 under credit terns of 2/10,n/60, FoB shipping point, invoice dated July 2. The merchandise had cost $1,860. Juty 3 Paid $1,005 cash for freight charges on the purchase of July 1. July 8 Sold merchandise that had cost $3,700 for $6,100 cash. July 9 Purchased nerchandise fron Lee Conpany for $4,408 under credit terns of 2/15,n/60, foB destination, invoice dated July 9. July 11 Returned $900 of merchandise purchased on July 9 fron Lee Company and debited its account payable for that amount. July12 Received the balance due from Wilson Company for the invoice dated July 2, net of the discount. July 16 Paid the balance due to Griffin Company within the discount period. July 19 Sold merchandise that cost $3,920 to Garcia Company for $5,600 under credit terms of 2/15, n/6e, FoB shipping point, invoice dated July 19. July 21 Gave a price reduction (allowance) of $1,100 to Garcia Conpany for serchandise sold on July 19 and credited Garcia's accounts receivable for that anount. July 24 Paid Lee Company the balance due, net of discount. July 30 Received the balance due fron Garcia Conpany for the invoice dated July 19, net of discount. July 31 Sold merchandise that cost $6,860 to Witson Company for $11,400 under credit terms of 2/10, n/6e, FoB shipping point, invoice dated July 31 . Prepare a multiple-step income statement through the calculation of gross profit. point, invoice dated July 31 . For each transaction, indicate the impact each item had on income and the dollar amount of the change in income, if any. Decreases in net income should be entered with a minus sign. Upon completion, compare the gross profit with the