Fidn the retianed earnings $($see red x$).$ The trial balance for Terry's Auto Shop as of January $1,$ Year $2,$ follows:

The following events affected the company during the Year $2$ accounting period:

Purchased merchandise on account that cost $$4,180.$

The goods in Event $1$ were purchased FOB shipping point with freight cost of $$240$ cash.

Returned $$410$ of damaged merchandise for credit on account.

Agreed to keep other damaged merchandise for which the company received an $$210$ allowance.

Sold merchandise that cost $$2,570$ for $$13,100$ cash.

Delivered merchandise to customers in Event $5$ under terms FOB destination with freight costs amounting to $$155$

cash.

Paid $$2,910$ on the merchandise purchased in Event $1.$

Paid $$8,930$ cash for operating expenses.

erclse $4-12$A $($Algo$)$ Part c

repare a multistep income statement, balance sheet, and statement of cash flows. $($Assume that closing entries have been made.$)$

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Income

Statement

Balance Sheet

Statement of

Cash Flows

$-$epare a balance sheet.