General Journal General rial Balance Schedule of Schedule of Impact on Income Requirement Ledger Payables Statement Income Prepare a multiple-step income statement through the calculation of gross profit. Taylor's Company Partial Income Statement For the Month Ended July 31, 2017 Tu1. 3 Purchased merchandise from lalker Coepany for 58,609 under credit terms of 1/15, n/, O shipping point, invoice dated July 1 Jul. 2 Sold eerchandise to Perry Co. for $2,280 under credit tems of 2/18, , Fo shspping poLnt, nvoce dated July 2. The eerchandise had cost $1,320 ul Pid $045 cash for freight charges on the purchass of uly 1 ul. Sold merchandise that had cost $2,688 for $4,300 cash ul. 9 Purchesed werchandise froe Ryan Co, for $3,580 under credit teres of 2/15, n/60, FOB destination, invoice dated July l 11 Received $700 credit mnorandus from Ryan Co. for the return of part of the merchandise purchased on uly l12 Received the balance due from Perry Co. for the l u1. 16 Paid the balance due to halker Coepany within the discount period lul, 19 Sold "erchandise that cost $2,700 tClinton Co. for S,see under credit terms of 2/15, noe, ron shipping podnt, Snvoice ice dated uly 2, net of the discount 2 Issued a $880 credit mesorandum to cinton Co. for an allowance on goods sold on July 19 ul. 24 Paid Ryan Co. the balance due, net of discount Jul 50 Received the balance due from Clinton Co. for the invoice dated July 19, net of discount ul. 31 Sold merchandise that cost $5,800 to Perry Co. for $9,600 under credit ters of 2e, n/68, FoB shipping point, Invelce dated July 3