Mindy's Candy Co. (MCC) started the accounting period with $500 in its cash account, $400 in Common Stock and $100 in Retained Earnings. During the accounting period: 1. MCC paid $400 cash to purchase inventory. 2. MCC sold inventory that cost $300 for $450 cash. 3. MCC paid $100 cash for selling and administrative expenses. Balance Sheet Income Statement Event Assets Liabilites + Rev Exp Cash Flow Cash Flow 11 NI Cash Inventory Accounts Payable Stockholders' Equity Com. Ret. Stk. Earn 400 100 Beg Bal. 500 1 2 2 3 End Bal