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FATAB Distributing Company completed these merchandising transactions in the month of April. At the beginning of April, the ledger of FATABD showed Cash of $10,000 and Common Stock of $10,000 Apr.2 Purchased merchandise on account from Drekka Co. $8,700, terms 2/10, n/30 Apr. 4 Sold merchandise on account to Gata, Inc. $6,000, terms 2/10, 1/30, FOB Destination. The cost of the merchandise sold was $3,700 Apr. 5 Paid $200 freight by check on April 4 sale Apr. 6 Received credit from Drekka Co. for merchandise returned $400 Apr. 11 Paid Drekka Co. in full, less discount Apr. 13 Received collections in full, less discounts, from Gata, Inc., billed on April Apr. 14 Purchased merchandise from Flug, Inc. for cash 54,700. No shipping costs incurred. Apr. 16 Received refund of $500 from Flug, Inc. for returned merchandise on cash purchase of April 14. Apr. 18 Purchased merchandise from Sigga Distributors $5,500, terms 2/10,n/30, FOB Shipping Point Apr. 20 Paid freight by check on April 18 purchase $180. Apr. 23 Sold merchandise for cash to Kirkja, Inc. for $8,300. The cost of the merchandise sold was $5.580. Apr. 26 Purchased merchandise for cash from Silung, Inc. for $2,300 Apr. 27 Paid Sigga Distributors in full, less discount. Apr. 29 Made refunds to various cash customers for returned merchandise $180 The returned merchandise had a cost of $120. Apr 30 Sold merchandise on account to Frimirki, Inc. $3,980, terms /30. The cost of the merchandise sold was $2,500 No shipping charges. FATABD Distributing Company's chart of accounts includes: Cash, Accounts Receivable, Inventory, Accounts Payable, Common Stock, Sales Revenue, Sales Returns and Allowances, Sales Discounts, Cost of Goods Sold, and Freight-Out Instructions (a) Journalize the transactions. (b) Prepare the income statement through gross profit for the month of April 2014 TIP: Since you need to prepare an income statement through gross profit, you should keep track of your accounts as you go along