PB4.1 Journalise, post, prepare partial statement of profit or loss, and calcula 02, 3, 4,5 Clucker Poultry Distributing Company completed these inventory trans the month of April. At the beginning of April, the ledger of Clucker Poultry showed casia of $4500 and share capital of $4500. Apr. 4 Purchased inventory on account 6 Sold inventory on account $2500, terms 2/7, n/30. The cost of the inventory scld t from Leghom Supply Ltd $2950, terms 2/7, n/30 was $2000. 7 Paid $100 freight on 6 April sale 8 Received credit from Leghorn Supply Ltd for inventory returned $150 11 Paid Leghorn Supply Ltd in full, less discount. 13 Received collections in full, less discounts, from customers biled on 6 Apri. 14 Purchased inventory for cash $2200. 16 Received refund from supplier on cash purchase of 14 April, $250 21 Purchased inventory from Pigeon Distributors $2100, terms 2/7, n/30 274 Financial accounting: Reporting, analysis and decision making Apr. 22 Paid freight on 21 April purchase $50. 23 Sold inventory for cash $3700. The cost of the inventory sold was $3060. 26 Purchased inventory for cash $1150 27 Paid Pigeon Distributors in full, less discount. 29 Made refunds to cash customers for inventory sold for $45. The returned inventory hada 30 Sold inventory on account $1850, terms n/30. The cost of the inventory sold was $1500. cost of $35. Clucker Poultry Distributing Company's chart of accounts includes Cash, Accounts receiv- able, Inventory, Accounts payable, Share capital, Sales, Sales returns and allowances, Discount allowed, Cost of sales, Freight-in, and Freight-out Required (a) Journalise the transactions. (b) Post the transactions to T accounts. Be sure to enter the beginning cash and share capital balances. (c) Prepare the statement of profit or loss up to gross profit for the month of April 2019 (d) Calculate the profit margin ratio and the gross profit ratio. (Assume operating expenses were $450 and ignore the effects of income tax for this question.)