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The following post-closing trial balance was drawn from the accounts of Little Grocery Supplier (LGS) as of December 31, Year 1: Credit Debit $ 6,220 16,940 25,750 Cash Accounts receivable Allowance for doubtful accounts Inventory Accounts payable Common stock Retained earnings Totals $ 2,390 9,600 19,200 17,720 $48,910 $48,910 Transactions for Year 2 ces 1. LGS acquired an additional $9,800 cash from the issue of common stock. 2. LGS purchased $61,200 of inventory on account. 3. LGS sold inventory that cost $63,100 for $96,000. Sales were made on account. 4. The company wrote off $1,300 of uncollectible accounts. 5. On September 1, LGS loaned $8,000 to Eden Co. The note had an 7 percent interest rate and a one-year term 6. LGS paid $14,660 cash for operating expenses. 7. The company collected $87,090 cash from accounts receivable, 8. A cash payment of $46,450 was paid on accounts payable 9. The company paid a $5,300 cash dividend to the stockholders, 10. Accepted credit cards for sales amounting to $2,400. The cost of goods sold was $1.600. The credit card company charges a 4% service charge. The cash has not been received. 11. Uncollectible accounts are estimated to be 2.5 percent of sales on account 12. Recorded the accrued interest at December 31, Year 2. Journal entry worksheet Record the issuance of additional common stock Note: Enter debits before credits. Event General Journal Debit Credit 01 Record entry Clear entry View general journal LITTLE GROCERY SUPPLIER Income Statement For the Year Ended December 31, Year 2 0 Operating expenses Total operating expenses 0 0 $ $ 0 0 LITTLE GROCERY SUPPLIER Statement of Changes in Stockholders' Equity For the Year Ended December 31, Year 2 1 $ 0 0 Total stockholders' equity $ 0 o o Balance Sheet As of December 31, Year 2 Assets 0 $ 0 Total Assets Liabilities 0 Total Liabilities Stockholders' Equity 0 Total Stockholders' Equity Total Liabilities and Stockholders' Equity $ 0 LITTLE GROCERY SUPPLIER Statement of Cash Flows For the Year Ended December 31, Year 2 Cash Flows From Operating Activities: $ 0 Net Cash Flow from Operating Activities Cash Flows From Investing Activities: Net Cash Flow from Investing Activities Cash Flows From Financing Activities: 0 Net Cash Flow from Financing Activities Net Change in Cash 0 Ending Cash Balance $ 0 c. Prepare an income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows for Year 2 (Statement of changes in stockholders' equity, Balance Sheet and Statement of Cash Flows only: Items to be deducted must be indicated with a minus sign. Round your answers to nearest whole dollar.) LITTLE GROCERY SUPPLIER Income Statement For the Year Ended December 31, Year 2 0 Operating expenses