cost $42 The following events affected the company during the Yem 2 accounting period 1. Purchased merchandise on account that cost $4,250. 2. The goods in Event 1 were purchased FOB shipping point with freight cost of $280 cash 3. Returned $475 of damaged merchandise for credit on account 4. Agreed to keep other damaged merchandise for which the company received an 5220 allowance 5. Sold merchandise that cost $2,720 for $13,600 cash. 6. Delivered merchandise to customers in Event 5 under terms FOB destination with freight costs amounting to $175 cash 7. Paid $2,960 on the merchandise purchased in Event 1 8. Paid $8,630 cash for operating expenses. a $475 of da were purchased c. Prepare a multistep income statement, balance sheet, and statement of cash flows. Assume that closing entries have been made) Complete this question by entering your answers in the tabs below. Income Statement Balance Sheet Statement of Cash Flows Prepare a statement of cash flows. (Assume that closing entries have been made) (Statement of Cash Flows only, items to be deducted must be indicated with a negative amount.) TERRY'S AUTO SHOP Statement of Cash Flows For the Year Ended December 31, Year 2 Cash flow from operating activities Net cash flow from operating activities Cash flows from investing activities Cash flows from financing activities Net change in cash > 10