Required information Problem 4-25A (Algo) Comprehensive cycle problem: Perpetual system LO 4-2, 4-3, 4-4, 4-5, 4-6, 4-7 [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: Duting Year 2, the company experienced the following events: 1. Purchased inventory that cost $6,100 on account from Ross Company under terms 2/10,n/30. The merchandise was delivered FOB shipping point. Transportation costs of $560 were paid in cash. 2. Returned $350 qf the inventory it had purchased because the inventory was damaged in transit. The seller agreed to pay the return transportation cost. 3. Paid the amount due on its account payable to Ross Company within the cash discount period. 4. Sold inventory that had cost $6,600 for $9,600 on account, under terms 2/10, n/45. 5. Recelved merchandise returned from a customer. The merchandise originally cost $560 and was sold to the customer for $860cash. The customer was paid $860 cash for the returned merchandise. 6. Delivered goods FOB destination in Event 4. Transportation costs of $660 were paid in cash. 7. Coliected the amount due on the account recelvable within the discount period. 8. Took a physical count indicating that $2,300 of inventory was on hand at the end of the accounting period. Uranara a ctatomont nt rach tinikic Complete this question by entering your answers in the tabs below. Prepare a multistep income statement. Uronaro a ctatamont nt rach tintue Complete this question by entering your answers in the tabs below. Prepare a statement of changes in stockholders' equity. Prepare a balance sheet. Prepare a statement of cash flows. Note: Enter cash outflows with a minus sign. Required information Problem 4-25A (Algo) Comprehensive cycle problem: Perpetual system LO 4-2, 4-3, 4-4, 4-5, 4-6, 4-7 [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: Duting Year 2, the company experienced the following events: 1. Purchased inventory that cost $6,100 on account from Ross Company under terms 2/10,n/30. The merchandise was delivered FOB shipping point. Transportation costs of $560 were paid in cash. 2. Returned $350 qf the inventory it had purchased because the inventory was damaged in transit. The seller agreed to pay the return transportation cost. 3. Paid the amount due on its account payable to Ross Company within the cash discount period. 4. Sold inventory that had cost $6,600 for $9,600 on account, under terms 2/10, n/45. 5. Recelved merchandise returned from a customer. The merchandise originally cost $560 and was sold to the customer for $860cash. The customer was paid $860 cash for the returned merchandise. 6. Delivered goods FOB destination in Event 4. Transportation costs of $660 were paid in cash. 7. Coliected the amount due on the account recelvable within the discount period. 8. Took a physical count indicating that $2,300 of inventory was on hand at the end of the accounting period. Uranara a ctatomont nt rach tinikic Complete this question by entering your answers in the tabs below. Prepare a multistep income statement. Uronaro a ctatamont nt rach tintue Complete this question by entering your answers in the tabs below. Prepare a statement of changes in stockholders' equity. Prepare a balance sheet. Prepare a statement of cash flows. Note: Enter cash outflows with a minus sign