Module 7, Chapter 6 Handout Merchandising Operations and the Multi-Step Income Statement b. Prepare an income statement through gross profit for the month of April 2022. E6.1 This information relates to Rice Co. 1. 2. On April 5, purchased merchandise from Jax Company for $28,000 on account. On April 7, purchased equipment on account for $30,000 3. On April 8, returned $3,600 of April 5 merchandise to Jax Company. 4. On April 15, paid the amount due to Jax Company in full. Instructions Prepare a tabular summary to record the transactions listed above for Rice Co. using a perpetual inventory system Assets + Stockholders' Equity Accts. Cash + Inv. Equip Pay Common Stock Retained Eamings Rev Exp E6.4 The following transactions are for Alonzo Company. 1. On December 3, Alonzo Company sold $500,000 of merchandise to Arte Co. on account. The cost of the merchandise sold was $330,000. 2. On December 8, Arte Co. returned $25,000 of merchandise purchased on December 3. The cost of the goods was $16,000 3. On December 13, Alonzo Company received the balance due from Arte Co. Instructions Prepare a tabular summary to record these transactions for Alonzo Company using a perpetual inventory system Assets Accts Cash Rec Page 2 of 3 Stockholders Equity Acc Common Retained Earnings Pr Stock Exp 990