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Can someone show me how to do the Statement of profit or loss using the PERPETUAL system as at 28th Feb. Metal Music Ltd is

image text in transcribedCan someone show me how to do the Statement of profit or loss using the PERPETUAL system as at 28th Feb.

Metal Music Ltd is a retail store specialising in musical instruments and other musical items for rock and metal musicians. At the beginning of February 2020, the ledger of Metal Music Ltd showed Cash $2,500; Inventory $1,700; and Share capital $4,200. The company uses a perpetual inventory system. The following transactions were completed during February 2020: February 6 Purchased electric guitars from Guitars R Us Ltd $840, terms 3/7, n/30. 7 Paid freight on Guitars R Us Ltd purchase $40. 8 Sold inventory to customers $900, terms n/30. The inventory cost $600. 10 Received credit of $84 from Guitars R Us Ltd for a guitar that was returned. 11 Purchased guitar strings from Strings N Things for cash $300. 13 Paid Guitars R Us Ltd in full. 14 Purchased Guitar straps and leads from Musical Importers Ltd $500, terms 2/7, n/60. 15 Received cash refund of $50 from Strings N Things for damaged inventory that was returned. 17 Paid freight on Musical Importers Ltd purchase $30. 18 Sold inventory to customers $900, terms n/30. The cost of the inventory was $530. 20 Received $500 in cash from customers in settlement of their accounts. 21 Paid Strings N Things Ltd Musical Importers Ltd in full. 27 Granted an allowance of $30 to a customer for a guitar strap that was faulty. 28 Received cash payments on account from customers $500. The chart of accounts for Metal Music Ltd contains the accounts and account numbers below and no new accounts need to be added: 100 Cash 110 Accounts receivable 120 Inventory 200 Accounts payable 300 Share capital 400 Sales 410 Sales returns and allowances 500 Cost of sales 510 Discount received

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