n ing Business o Account Titles Cash Inventory Common Stock Retained Earnings Total Part 2 of 2 Debit Credit $14,730 3,140 $ 7,330 10,540 $17,870 $17,870 points The following events affected the company during the Year 2 accounting period 1. Purchased merchandise on account that cost $4250 2. The goods in Event 1 were purchased FOB shipping point with freight cost of $280 cash 3. Returned $475 of damaged merchandise for credit on account 4. Agreed to keep other damaged merchandise for which the company received an $220 allowance 5. Sold merchandise that cost $2720 for $13.600 cash 6. Delivered merchandise to customers in Event 5 under terms FOB destination with freight costs amounting to $175 cash 7. Paid $2.960 on the merchandise purchased in Event 1 8. Paid $8,630 cash for operating expenses. c. Prepare a multistep income statement balance sheet, and statement of cash flows. Assume that closing entries have been made) Complete this question by entering your answers in the tabs below. Income Statement Balance Sheet Statement of Cash Flows Prepare a balance sheet. TERRY'S AUTO SHOP Balance Sheet As of December 31, Year