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Return to question Required information The following information applies to the questions displayed below) At the beginning of Year 2 the Redd Company had the following balances in its accounts F. Cash Inventory Comon stock Retained 2. 200 During Year 2 the company experienced the following eventh 1. Purchased Inventory that cost $5.400 on account from Ross Company under terms 2/10,30 The merchandise wins delivered Foeshpoing point Freight costs of $490 were paid in cash 2 Retumed 5450 of the entry that it had purchased because the inventory was damaged in tranut. The seller agreed to pay the return right cost. 3. Pald the amount doe ons account payable to Ross Company within the cash discount period 4. Sold inventory that had cost $5.900 for $8.900 on accountunder terms 2/30 45 5. Received merchandise tumed from a customer. The merchandise originally cost $490 and was sold to the customer for $790 cash The customer was paid $790 cash for the returned merchandise 6. Delivered goods FOB destination in Event 4 Freight costs of $590 were paid in cash 7. Collected the amount due on the account receivable within the discount period. 8. Took a physical count indicating that $1600 of inventory was on hand at the end of the accounting period C-1. Prepare a multiste income statement HE Nad 0-3. Prepare a balance sheet c-4. Prepare a statement of cash flows. Answer is not complete. Complete this question by entering your answers in the tabs below. Red CI Reg C2 Rega Red C4 Prepare a multistop income statement REDD COMPANY Income Statement For the Year Ended December 31, Year 2 Net sales s 7932 Cost of goods sold Operating expenses 5 Next of 5 Req ci Reg C2 Reg C3 Reg 04 Prepare a balance sheet. REDD COMPANY Balance Shoot As of December 31, Year 2 Assets 5 0 Total assets Liabilities Stockholders' Equity 0 S $ 0 Total stockholders' equity Total liabilities and stockholders' equity Reg 4 >