Problem 3-28A (Algo) Comprehensive cycle problem: Periodic system (Appendix) LO 3-9 The following listing of accounts pertains to Benjis Grocery as of January 1, Year 2: The following events occurred in Year 2. Assume that Benji's uses the periodic inventory method. 1. Purchased land for $9,100 cash. 2. Purchased merchandise on account for $97,000, terms 2/10,n/45. 3. Paid freight of $1,050 cash on merchandise purchased FOB shipping point. 4. Returned $3,700 of defective merchandise purchased in Event 2. 5. Sold merchandise for $87,000 cash. 6. Sold merchandise on account for $91,500, terms 3/10,n/30. 7. Paid cash within the discount period on accounts payable due on merchandise purchased in Event 2. 8. Paid $11,700 cash for selling expenses. 9. Collected $51,000 of the accounts recelvable from Event 6 within the discount period. 0. Collected $40,500 of the accounts receivable but not within the discount periodf. 11. Paid $6,500 of other operating expenses. 2. A physical count indicated that $47,700 of inventory was on hand at the end of the accounting period. Complete this question by entering your answers in the tabs below. Prepare an income statement. Record the preceding transactions in a horizontal statements model. In the Cash flons column, use OA to designate operating activity, IA for investing activity, FA for fins event, leave the cell blank. The beginining balances have been recorded as an example. (Not every cell will require entry, Enter any decreases to account balances and ca Complete this question by entering your answers in the tabs below. Prepare a schedule of cost of goods sold. BENITS GROCERY