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On March 10, 2020 Flint Company sold to Barr Hardware 190 toolsets at a price of S52 each cost $32 per set) with terms of

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On March 10, 2020 Flint Company sold to Barr Hardware 190 toolsets at a price of S52 each cost $32 per set) with terms of n/60, tah shipping point. Flint allows Barr to return any unused toolsets within 60 days of purchase. Flint estimates that (1) 10 sets will be returned (2) the cost of recovering the products will be immaterial, and (3) the returned tools sets can be resold at a proht on March 25, 2020. Barcreturned 7 tool sets and received a credit to its account, Assume that instead of selling the tool sets on credit, that Flint sold them for cash Indicate the income statement and balance sheet reporting by Flint at March 31, 2020, of the information related to the Barr salus. (List Assets in order of liquidity:) Income Statement (partial) For the Quarter Erded March 31, 2020 Sales Revenge Loss Sales Returns and Allowances Net Sales DIDIE Cost of Goods Sold Grossprott Balance Sheet (partial) March 31, 2020

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