Synergy Technologies Inc. began 2020 with inventory of $20,000. During the year, Synergy purchased inventory costing $100,000 and sold goods for $130,000, with all transactions on account. Synergy ended the year with inventory of $30,000. Synergy prepared the following journal entries under the periodic inventory system at year end: (Click the icon to view the journal entries.) Requirements 1. Post to the Inventory and Cost of Goods Sold accounts. 2. Compute cost of goods sold by the cost-of-goods-sold model. 3. Prepare the December 2020 income statement of Synergy Technologies Inc. through gross profit. HERE Requirement 1. Post the beginning balance(s) and all entries to the Inventory and Cost of Goods Sold accounts. (Leave any unused cells blank.) Inventory Cost of Goods Sold - X Journal entries End ball End bal. Requirement 2. Compute cost of goods sold by the cost-of-goods-sold model. Journal Entry Accounts Debit Credit JE1 Plus: Purchases 100,000 Accounts Payable 100,000 Goods available JE2 Accounts Receivable 130.000 Less: Sales Revenue 130,000 Cost of goods sold JE3 Cost of Goods Sold 20,000 Requirement 3. Prepare the December 2020 income statement of Synergy Technologies Inc. through gross profit. Inventory 20.000 Synergy Technologies Inc. JE4 Inventory 30.000 Income Statement Cost of Goods Sold 30,000 For the Year Ended December 31, 2020 JE5 Cost of Goods Sold 100.000 Purchases 100,000 Gross profit Print Done