[The following information applies to the questions displayed below] The following post-ciosing trlat balance was drawn from the accounts of Litte Grocery suppier (LGS) as or December 31. Year 1. Transactions for Year 2 1. LGS acquired an additional $9,800 cash from the issue of common stock. 2 L 65 purchased $60,200 of inventory on account. 3. LGS sold inventory that cost $61,500 for $94,300. Sales were made on account 4. The company wrote of $1,40 of uncoliectible accounts. 3. On September 1, LG $ loaned $8.000 to Eden Company The note had an 9 percent interest rate and a one year term o. LGS paid $15,820 cash for operating expenses. 7. The company coliected $86,540 cash from accounts receivable 8. A cash poyment of $47,240 was pald on accounts poyable. 9. The company paid a $5,000 cash dividend to the stockholders 10. Accepted credit cards for sales amounting to 53,000 . The cost of goods sold was $1,600. The credit card company charges a 3 percent kevice charoe The cash has not been recelved. 11. Uncoliectible occounts are estimated to be 15 percent of sales on account. 12. Recorded the accrued interest at December 31, Year 2 Exercise 7-15A (Aigo) Port C c. Prepere an income statentent, statement of changes in sockhoiders squity, bolance shet, and statement of cash flows for Year 2