Oriole Distributors completed the following merchandising transactions in the month of April. At the beginning of April, the ledger of Oriole showed Cash of 10,500 and Share Capital-Ordinary of 10,500. Apr. 2 Purchased merchandise on account from Walker Supply 5,500, terms 1/10,n/30. 4 Sold merchandise on account 6,600, FOB destination, terms 1/10, n/30. The cost of the merchandise sold was 2,600. 5 Paid 350 freight on April 4 sale. 6 Received credit from Walker Supply for merchandise returned 600. Paid Walker Supply in full, less discount. 11 13 Received collections in full, less discounts, from customers billed on April 4. Purchased merchandise for cash 3,500. 14 16 18 Received refund from supplier for returned goods on cash purchase of April 14, 380. Purchased merchandise from Benjamin Glassware 5,400, FOB shipping point, terms 2/10, n/30. Paid freight on April 18 purchase 190. 20 23 Sold merchandise for cash 6,600. The merchandise sold had a cost of 2,800. 26 Purchased merchandise for cash 3,000. 27 Paid Benjamin Glassware in full, less discount. Made refunds to cash customers for defective merchandise 110. The returned merchandise had a fair value of 30. 29 30 Sold merchandise on account 5,000, terms n/30. The cost of the merchandise sold was 1,600. Oriole chart of accounts includes the following: No. 101 Cash, No. 112 Accounts Receivable, No. 120 Inventory, No. 201 Accounts Payable, No. 311 Share Capital - Ordinary, No. 401 Sales Revenue, No. 412 Sales Returns and Allowances, No. 414 Sales Discounts, No. 505 Cost of Goods Sold, and No. 644 Freight-Out. Date Account Titles and Explanation Debit Credit ril 2 Inventory 5500 Accounts Payable ril 4 Accounts Receivable 6600 Cost of Goods Sold 2600 (To record credit sale) ril 4 Inventory sales DULUL DU VIL (To record cost of merchandise sold) ril 5 Freight-Out 350 1000 ON Cash ril 6 Accounts Payable 600 Purchase Returns and Allowances ril 11 V Accounts Payable 4900 Cash Purchase Discounts ril 14 Inventory 3500 Cash ril 16 V Cash 380 Purchase Returns and Allowances ril 18 Inventory 5400 Accounts Payable ril 20 Freight-Out 190 Cash ril 23 > Cash 6600 Cost of Goods Sold 2800 (To record cash sale) ril 23 Inventory LIO Sales Revenue (To record cost of merchandise sold) ril 26 Inventory 3000 Cash LLL ril 27 Accounts Payable 5400 Cash cord cost of merchandise Sola) ril 26 Inventory Sales Revenue (To record cost of merchandise sold) Prepare the income statement through gross profit for the month of April 2020. ORIOLE DISTRIBUTORS Income Statement (Partial) April 30.2020 Sales Sales Returns and Allowances 180 Less Sales Revenue 18200 Sales Discounts 110 180 1 176