Required information Problem 6-3B Record transactions and prepare a partial income statement using a perpetual inventory system (LO6-2, 6-5) [The following information applies to the questions displayed below.] At the beginning of June, Circuit Country has a balance in inventory of $2,900. The following transactions occur during the month of June. June 2 Purchase radios on account from Radio World for $2,600, terms 1/15, n/45. June 4 Pay cash for freight charges related to the June 2 purchase from Radio World, $380. June 8 Return defective radios to Radio World and receive credit, $200. June 10 Pay Radio World in full. June 11 Sell radios to customers on account, $4,800, that had a cost of $3,100. June 18 Receive payment on account from customers, $3,800. June 20 Purchase radios on account from Sound Unlimited for $3,700, terms 2/10, n/30. June 23 Sell radios to customers for cash, $5,200, that had a cost of $3,500. June 26 Return damaged radios to Sound Unlimited and receive credit of $300. June 28 Pay Sound Unlimited in full. Problem 6-3B Part 2 2. Prepare the top section of the multiple-step income statement through gross profit for the month of June. Answer is not complete. CIRCUIT COUNTRY Multiple-step Income Statement (partial) For the month of June Net Sales Cost of Good Sold Gross Profit 3,400