Required Information [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: Cash Inventory Common stock Retained earnings $8,900 2,900 8,400 3,400 During Year 2, the company experienced the following events: 1. Purchased Inventory that cost $6,400 on account from Ross Company under terms 2/10, n/30. The merchandise was delivered FOB shipping point. Freight costs of $590 were paid in cash. 2. Returned $350 of the Inventory It had purchased because the Inventory was damaged in transit. The seller agreed to pay the return freight cost. 3. Pald the amount due on its account payable to Ross Company within the cash discount period. 4. Sold Inventory that had cost $6.900 for $9.900 on account, under terms 2/10, n 45. 5. Received merchandise returned from a customer. The merchandise originally cost $590 and was sold to the customer for $890 cash. The customer was paid $890 cash for the returned merchandise. 6. Delivered goods FOB destination in Event 4. Freight costs of $690 were paid in cash. 7. Collected the amount due on the account recevable within the discount period. 8. Took a physical count Indicating that $2.600 of Inventory was on hand at the end of the accounting period. -1. Prepare a multistep Income statement -2. Prepare a statement of changes in stockholders equity -3. Prepare a balance sheet. 6.4. Prenare a statement of cash flows Prey 4 of 5 Next > PULUMUISep Income statement C-2. Prepare a statement of changes in stockholders' equity. C-3. Prepare a balance sheet. C-4. Prepare a statement of cash flows. Complete this question by entering your answers in the tabs b Req c1 Req C2 Req C3 Req C4 Prepare a balance sheet. REDD COMPANY Balance Sheet As of December 31, Year 2 Assets Cash Meron and se inventory Accounts rece 120 e Tots assets Liabilities Stockholders Equity common steek Reta ned earnings B houders HOE I luuled multistep Income statement. -2. Prepare a statement of changes in stockholders' equity -3. Prepare a balance sheet. -4. Prepare a statement of cash flows. Complete this question by entering your answers in the tabs below. Req C1 Reg C2 Reg C3 Req C4 Prepare a statement of cash flows. (Enter cash outflows as negative amounts.) REDD COMPANY Statement of Cash Flows For the Year Ended December 31, Year Cash flows from operating activities Inflow from customers Outfiow for inventory Outfiow for expenses Net cash flow from operating activities Cash flows from investing activities Cash flows from financing activities Net change in cash Plus Beginning cash balance Ending cash balance & Reg Cs C-1. Prepare a multistep Income statement C-2. Prepare a statement of changes in stockholders' equity. C-3. Prepare a balance sheet. C-4. Prepare a statement of cash flows. Complete this question by entering your answers in the tabs below. Reg C1 Reglez Reg C3 Req C4 Prepare a statement of changes in stockholders' equity, REDD COMPANY Statement of Changes in Stockholders Equity For the Year Ended December 31, Year 2 Beginning common stock $ 8.400 le lus Stock ssued 8.400 Ending common stock Beginning reta ned earnings 3.490 eius Net income 3.400 Ending retained earnings 11.800 Tota stockholders equit Reg C3 S