The beginning account balances for Austin's Auto Shop as of January 1, 2014, follows: The following events affected the company during the 2014 accounting period: Purchased merchandise on account that cost $8, 900. The goods in Event 1 were purchased FOB shipping point with freight cost of $620 cash. Returned $1, 070 of damaged merchandise for credit on account. Agreed to keep other damaged merchandise for which the company received an $535 allowance. Sold merchandise that cost $6, 010 for $10, 400 cash. Delivered merchandise to customers in Event 5 under terms FOB destination with freight costs amounting to $420 cash. Paid S6.500 on the merchandise purchased in Event 1. Prepare an income statement for 2014. Required Organize appropriate ledger accounts under an accounting equation. Record the beginning balances and the transaction data in the accounts. In the last column of the table, provide appropriate account titles for the Retained Earnings amounts. (Enter any decreases to account balances with a minus sign. Select "NA" if there is no effect on the "Accounts Titles for Retained Earnings".)