In 2013 the company had the following balances in its account: cash-8300 inventory-2400 common stock-7800 retained earnings-2800

in 2014 the company: 1. purchased inventory that cost $5,800 on account from belvin's company under terms 20/10, n/30 the merchandise was delivered fob shipping point freight costs of $530 were paid in cash 2. returned $300 of the inventory that it had purchased because the inventory was damaged in transit the seller agreed to pay the return freight cost 3. paid the amount due on an account payable to buildings company within the cash discount period 4. sold inventory that had cost $6,300 for 9300 on account under terms 20/10, n/45 5. received merchandise return from a customer the merchandise originally cost $530 and was sold to the customer for $830 cash the customer was paid $830 cash for the returned merchandise 6. delivered Goods fob for Destination and event for freight cost of $630 were paid in cash 7. collected the amount due on the account receivable within the discount period 8. took a physical count indicated that $2,000 of inventory was on hand at the end of the accounting period

prepare a multi-step income statement, prepare a statement of change in stockholders equity, prepare a balance sheet, prepare a statement of cash flows and record each event in a statements model in the cash flow column use OA to designate operating activity ia for investment activity essay for financing activity nc for net change in cash and na to indicate the element is not affected by the event

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