Problem 3-23 Effect of purchase returns and allowances and purchase discounts on the financial statements: Perpetual system L0 3-2 The following events were completed by Dana's Imports in September 2018: Sept. 1 Acquired $50,000 cash from the issue of common stock. Purchased $28,000 of merchandise on account with terms 2/10, n/30. 5 Paid $600 cash for freight to obtain merchandise purchased on September 1. 8 Sold merchandise that cost $15,000 to customers for $31,000 on account, with terms 2/10, n/30. 8 Returned $600 of defective merchandise from the September 1 purchase to the supplier. 10 Paid cash for the balance due on the merchandise purchased on September 1. 20 Received cash from customers of September 8 sale in settlement of the account balances, but not within the discount period. 30 Paid $2,450 cash for selling expenses. Required a. Record each event in a statements model like the following one. The first event is recorded as an example. b. Prepare an income statement for the month ending September 30. c. Prepare a statement of cash flows for the month ending September 30. d. Explain why there is a difference between net income and cash flow from operating activities