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Please any help with part B) ?

The Opening Balances & posting of entries to the accounts is as follows:

Cash					No. 101
Date	Explanation	Ref.	Debit	Credit	Balance
May 1	Balance	v	5,500		5,500
May 9		J1	1,584		7,084
May 10		J1		4,018	3,066
May 11		J1		350	2,716
May 12		J1		1,200	1,516
May 15		J1	200		1,716
May 19		J1		170	1,546
May 24		J1	3,200		4,746
May 27		J1		1,078	3,668
May 29		J1		70	3,598

Accounts Receivable					No. 112
Date	Explanation	Ref.	Debit	Credit	Balance
May 2		J1	1,600		1,600
May 9		J1		1,600	0
May 10		J1	1,000		1,000

Inventory					No. 120
Date	Explanation	Ref.	Debit	Credit	Balance
May 1		J1	4,300		4,300
May 2		J1		1,300	3,000
May 5		J1		200	2,800
May 10		J1		82	2,718
May 12		J1	1,200		3,918
May 15		J1		200	3,718
May 17		J1	1,100		4,818
May 19		J1	170		4,988
May 24		J1		1,800	3,188
May 25		J1	550		3,738
May 27		J1		22	3,716
May 29		J1	40		3,756
May 31		J1		600	3,156

Supplies					No. 126
Date	Explanation	Ref.	Debit	Credit	Balance
May 11		J1	350		350

Accounts Payable					No. 201
Date	Explanation	Ref.	Debit	Credit	Balance
May 1		J1		4,300	4,300
May 5		J1	200		4,100
May 10		J1	4,100		0
May 17		J1		1,100	1,100
May 25		J1		550	1,650
May 27		J1	1,100		550

Owners's Capital					No. 301
Date	Explanation	Ref.	Debit	Credit	Balance
May 1	Balance	v		5,500	5,500

Sales Revenue					No. 401
Date	Explanation	Ref.	Debit	Credit	Balance
May 2		J1		1,600	1,600
May 24		J1		3,200	4,800
May 31		J1		1,000	5,800

The Opening Balances & posting of entries to the accounts is as follows:

Sales Returns and Allowances					No. 412
Date	Explanation	Ref.	Debit	Credit	Balance
May 29		J1	70		70

Sales Discounts					No. 414
Date	Explanation	Ref.	Debit	Credit	Balance
May 9		J1	16		16

Cost of Goods Sold					No. 505
Date	Explanation	Ref.	Debit	Credit	Balance
May 2		J1	1,300		1,300
May 24		J1	1,800		3,100
May 29		J1		40	3,060
May 31		J1	600		3,660

PART B

Sandhill Hardware Store completed the following merchandising transactions in the month of May. At the beginning of May, the ledger of Sandhill showed Cash of $5,500 and Owner's Capital of $5,500. May 1 Purchased merchandise on account from Braun's Wholesale Supply for $4,300, terms 2/10,n/30. 2 Sold merchandise on account $1,600, terms 1/10,n/30. The cost of the merchandise sold was $1,300. 5 Received credit from Braun's Wholesale Supply for merchandise returned $200. 9 Received collections in full, less discounts, from customers billed on May 2. 10 Paid Braun's Wholesale Supply in full, less discount. 11 Purchased supplies for cash $350. 12 Purchased merchandise for cash $1,200. 15 Received $200 refund for return of poor-quality merchandise from supplier on cash purchase. 17 Purchased merchandise on account from Valley Distributors for $1,100, terms 2/10,n/30,FOB shipping point. 19 Paid freight on May 17 purchase $170. 24 Sold merchandise for cash $3,200. The merchandise sold had a cost of $1,800. 25 Purchased merchandise on account from Lumley, Inc. for $550, terms 2/10,n/30. 27 Paid Valley Distributors in full, less discount. 29 Made refunds to cash customers for returned merchandise $70. The returned merchandisecost $40. 31 Sold merchandise on account for $1,000 terms n/30. The cost of the merchandise sold was $600. Sandhill Hardware's chart of accounts includes the following: No. 101 Cash, No. 112 Accounts Receivable, No. 120 Inventory, No. 126 Supplies, No. 201 Accounts Payable, No. 301 Owner's Capital, No. 401 Sales Revenue, No. 412 Sales Returns and Allowances, No. 414 Sales Discounts, and No. 505 Cost of Goods Sold. (To record credit sale) 1,300 Inventory (To record cost of merchandise sold) Accounts Payable 200 Inventory 1,584 Sales Discounts 16 Accounts Receivable Accounts Payable Cash 4,018 Inventory 82 200 Inventory 200 lay 17 Inventory Accounts Payable 1,100 lay 19 Inventory 170 Cash 170 Cash 3,200 Sales Revenue (To record cash sale) Inventory (To record cost of merchandise sold) lay 25 Inventory 550 Accounts Payable Accounts Payable Accounts Payable 1,100 Cash Inventory 22 1ay 31 Accounts Receivable Sales Revenue (To record credit sale) 1ay 31 Cost of Goods Sold Inventory (To record cost of merchandise sold) Prepare a multiple-step income statement through gross profit for the month of May 2022. (Use the ledger balances from part b and assume that no adjustments are necessary.) (Enter negative amounts using either a negative sign preceding the number e.g. -45 or