Homework Chapter 4 0 Saved 2o Part20f2 5 points References Required information [7' he following information applies to the questions displayed below] At the beginning of Year 2, the Redd Company had the following balances in its accounts: Cash 8,800 Inventory 2,800 Common stock 8,300 Retained earnings 3,300 During Year 2, the company experienced the following events: 1. was Purchased inventory that cost $6,300 on account from Ross Company under terms 2/10, nl30, The merchandise was delivered FOB shipping point. Transportation costs of $580 were paid in cash. Returned $400 of the inventory it had purchased because the inventory was damaged in transit. The seller agreed to pay the return transportation cost. Paid the amount due on its account payable to Ross Company within the cash discount period . Sold inventory that had cost $6,800 for $9,800 on account, under terms 2/10, nl45. Received merchandise returned from a customer The merchandise originally cost $580 and was sold to the customer for $880 cash. The customer was paid $880 cash for the returned merchandise. Delivered goods FOB destination in Event 4. Transportation costs of $680 were paid in cash, Collected the amount due on the account receivable within the discount period. Took a physical count indicating that $2,500 of inventory was on hand at the end ofthe accounting period. c-1. Prepare a multistep income statement. c-2. Prepare a statement of changes in stockholders' equity. c-3. Prepare a balance sheet. c-4. Prepare a statement of cash flows, Complete this question by entering your answers in the tabs below. Req C1 Req C2 Req C3 Req C4 can u- Save & Exlt Submit W Homework Chapter 4 i Saved Help Save & Exit Submit Check my work 2 5. LOOK a physical count indicating that $2,5UU Of Inventory was on nana at the end of the accounting period. Part 2 of 2 c-1. Prepare a multistep income statement. c-2. Prepare a statement of changes in stockholders' equity. c-3. Prepare a balance sheet. c-4. Prepare a statement of cash flows. 5 points Complete this question by entering your answers in the tabs below. eBook Req C1 Req C2 Req C3 Req C4 Prepare a multistep income statement. Print REDD COMPANY Income Statement References For the Year Ended December 31, Year 2 Operating expenses Mc Graw HillHomework Chapter 4 i Saved Help Save & Exit Submit Check my work 2 5. LOOK a physical count indicating that $2,5UU Of Inventory was on nana at the end of the accounting period. Part 2 of 2 c-1. Prepare a multistep income statement. c-2. Prepare a statement of changes in stockholders' equity. c-3. Prepare a balance sheet. c-4. Prepare a statement of cash flows. 5 points Complete this question by entering your answers in the tabs below. eBook Req C1 Req C2 Req C3 Req C4 Prepare a statement of changes in stockholders' equity. Print REDD COMPANY Statement of Changes in Stockholders' Equity References For the Year Ended December 31, Year 2 Beginning common stock Plus: Stock issued Ending common stock Beginning retained earnings Ending retained earnings Total stockholders' equity Req C1 Req C3 > Mc Graw HillHomework Chapter 4 i Saved Help Save & Exit Submit Check my work 2 5. LOOK a physical count indicating that $2,5UU Of Inventory was on nana at the end of the accounting period. Part 2 of 2 c-1. Prepare a multistep income statement. c-2. Prepare a statement of changes in stockholders' equity. c-3. Prepare a balance sheet. c-4. Prepare a statement of cash flows. 5 points Complete this question by entering your answers in the tabs below. eBook Req C1 Req C2 Req C3 Req C4 Prepare a balance sheet. Print REDD COMPANY Balance Sheet References As of December 31, Year 2 Assets Total assets Liabilities Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity Mc Graw HillHomework Chapter 4 i Saved Help Save & Exit Submit Check my work 2 5. LOOK a physical count indicating that $2,5UU Of Inventory was on nana at the end of the accounting period. Part 2 of 2 c-1. Prepare a multistep income statement. c-2. Prepare a statement of changes in stockholders' equity. c-3. Prepare a balance sheet. c-4. Prepare a statement of cash flows. 5 points Complete this question by entering your answers in the tabs below. eBook Req C1 Req C2 Req C3 Req C4 Prepare a statement of cash flows Print Note: Enter cash outflows with a minus sign. REDD COMPANY References Statement of Cash Flows For the Year Ended December 31, Year 2 Cash flows from operating activities Net cash flow from operating activities Cash flows from investing activities Cash flows from financing activities Net change in cash Ending cash balance Req C3 Req C4 > Mc Graw Hill