! Required information Problem 6-9B Record transactions and prepare a partial income statement using a periodic inventory system (LO6-8) [The following information applies to the questions displayed below.) At the beginning of June, Circuit Country has a balance in inventory of $2,950. The following transactions occur during the month of June. June 2 Purchase radios on account from Radio World for $2,650, terms 2/15, n/45. June 4. Pay cash for freight charges related to the June 2 purchase from Radio World, $390. 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, $4,900, that had a cost of $3,150. June 18 Receive payment on account from customers, $3,900. June 20 Purchase radios on account from Sound Unlimited for $3,750, terms 2/10, n/30. June 23 Sell radios to customers for cash, $5,250, that had a cost of $3,550. June 26 Return damaged radios to Sound Unlimited and receive credit of $400. June 28 Pay Sound Unlimited in full. Problem 6-9B Part 3 3. Prepare the top section of the multiple-step income statement through gross profit for the month of June. CIRCUIT COUNTRY Multiple-step Income Statement (partial) For the month of June Cost of goods sold: Beginning inventory Cost of goods available for sale Cost of goods sold