Problem S-03 At the beginning of the current season on April 1, the lediger of Pharoah Pro Shop showed Cash $2,620, Inventory $3,500, and Common Stock $6,120. The following transactions were completed during April 2022. Apr. 5 Purchased golf bags, clubs, and balls on account from Amie Co. 2.200, terms 1/10, GO 7 Paid freight on Arnie purchase 580 9 Received credit from Amie Co. for merchandise returned 5400 10 Sold merchandise on account to members $1,480, terms 1/30. The merchandise sold had a cost of $820 12 Purchased golf shoes, sweaters, and other accessories on account from Woods Sportswear 40. terms 2/10 .. 14 Paid Amie Olin 17 Received credit from Woods Sportswear for merchandise retumed 540 20 Made sales on account to members $340, terms 30. The cost of the merchandise old was $550 21 Paid Woods Sportswear in full 27 Granted an allowance to members for clothing that did not fit property 57 30 Received payments on account from members 51.260. Debit Credit Date Account Titles and Explanation Apr. 5 V Inventory 2,200 Accounts Payable 2,200 Apr. 7 Inventory 80 Cash 80 Apr. 9 Accounts Payable 400 Inventory 400 Apr. 10 v Accounts Receivable 1,480 1,480 Sales Revenue (To record credit sale) Cost of Goods Sold 820 820 Inventory (To record cost of goods sold) Apr. 12 Inventory 840 Accounts Payable 840 Apr. 14 Accounts Payable Cash Inventory Apr. 17 Accounts Payable 40 Inventory 40 Apr. 20 v Accounts Receivable 840 840 Sales Revenue (To record credit sale) Cost of Goods Sold 550 550 Inventory (To record cost of goods sold) Accounts Payable Apr. 21 Cash Inventory Apr. 27 Sales Returns and Allowances 75 Accounts Receivable 75 Apr. 30 Cash 1,260 Casn 4/1 Bal. 2,620 4/7 75 4/30 1,260 4/14 4/21 Accounts Receivable Inventory > Accounts Payable > Common Stock Sales Revenue Sales Returns and Allowances Cost of Goods Sold PHAROAH PRO SHOP Trial Balance Debit Credit $ $ Prepare an income statement through gross profit for the month of April 2022. PHAROAH PRO SHOP Income Statement (Partial) $ Click if you would like to Show Work for this question: Open Show Work