tice Assignment Gradebook ORION Downloadable eTextbook ment CALCULATOR PL SCREEN PRINTER VERSION HACK (b) Indicate the income statement and balance sheet reporting by Bonita at October 31, 2020, of the information related to the Lynch transaction. Income Statement (partial) For the Quarter Ended October 31, 2020 Sales reverwe Less Sales returns and allowances Net Sales Cost of goods sold Gross profit Balance Sheet(partial) October 31, 2020 for Sales returns and allowances CALCULATOR FULL SCREEN PRINTER VERSION BACK NE Exercise 18-18 (Part Level Submission) On October 2, 2020, Bonita Company sold $5,630 of its elite camping gear (with a cost of $3,740) to lynch Outfitters. As part of the sales agreement, Bonta includes a provision that inchis dissatisfied with the product, Bonita will grant an allowance on the sales price or agree to take the product back though returns are rare given the long term relationship between Borstand Lynch). Bonita expects total allowances to Lynch to be $820. On October 16, 2020, Contagrants an allowance of $.90 to lynch because the color for some of the items delivered was a bit diferent than what appeared in the catalog. (a) Your answer is tot