Saved Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does n Required information [The following information applies to the questions displayed below) At the beginning of 2018, the Redd Company had the following balances in its accounts: Cash Inventory Common stock Retained earnings $16,900 25,000 30,000 11,900 During 2018, the company experienced the following events 1. Purchased inventory that cost $15,200 on account from Ross Company under terms 1/10,n/30. The merchandise was delivered FOB shipping point. Freight costs of $200 were paid in cash. 2. Returned $800 of the inventory that it had purchased because the inventory was damaged in transit. The seller agreed to pay the return freight cost. 3. Paid the amount due on its account payable to Ross Company within the cash discount period. 4. Sold inventory that had cost $18,000 for $32,000 on account, under terms 2/10, 1/45 5. Received merchandise returned from a customer. The merchandise originally cost $800 and was sold to the customer for $1,500 cash. The customer was paid $1,500 cash for the returned merchandise 6. Delivered goods FOB destination in Event 4. Freight costs of $140 were paid in cash. 7. Collected the amount due on the account receivable within the discount period 8. Took a physical count indicating that $21,100 of inventory was on hand at the end of the accounting period 3 Required information AGE >> VE LARG. art 3 of 3 ReqC1 e this question by entering your answers in the tabs below. U Real Req C2 Req C3 Req C4 noints Prepare a multistep income statement. 8 00:13:55 REDD COMPANY Income Statement For the Year Ended December 31, 2018 Net sales Cost of goods sold 18,356 Gross margin Operating expenses Reg C2 > Required information SWER TUL LA Part 3 of 3 Complete this question by entering your answers in the tabs below. 10 points Req ci Reg C2 Reg C3 Req C4 00:13:42 Prepare a statement of changes in stockholders' equity. REDD COMPANY Statement of Changes in Stockholders' Equity For the Year Ended December 31, 2018 Beginning common stock $ 30,000 Plus: Stock issued Ending common stock $ 30,000 Beginning retained earnings Plus: Net Income Ending retained earnings 0 Total stockholders equity $ 30,000 Required information GRI VRPC. 3 of 3 Complete this question by entering your answers in the tabs below. Req C3 Reg CI Reg C2 Reg C3 Req C4 hits Prepare a balance sheet. 3 00:13:17 REDD COMPANY Balance Sheet As of December 31, 2018 Assets $ 0 Total assets Liabilities Stockholders' Equity S 0 Total stockholders' equity Total liabilities and stockholders equity $ 0 Check my work mode : This shows what is correct or incorrect for the work you hav AND WISH LIST 3 Required information Part 3 of 3 Reg CI Req C2 Reg C3 Reg C4 10 points Prepare a statement of cash flows. (Enter cash outflows as negative amounts.) REDD COMPANY Statement of Cash Flows For the Year Ended December 31, 2018 Cash flows from operating activities 00 13:07 s 0 Net cash flow from operating activities Cash flows from investing activities Cash flows from financing activities Not change in cash 0 Ending cash balance 0