Two Part Solution Needed...

Part A. Prepare a multistep income statement, a statement of changes in stockholders equity, a balancesheet, and a statement of cash flows.(Statement of Cash Flows only, items to be deducted must be indicated with a negative amount.)

Part B. Record and post the closing entries, and prepare a post-closing trial balance.(If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

At the beginning of 2016, the Redd Company had the following balances in its accounts:

Cash	$15,800
Inventory	8,000
Land	3,700
Common stock	15,000
Retained earnings	12,500

During 2016, the company experienced the following events:

1.	Purchased inventory that cost $12,900 on account from Ross Company under terms 2/10, n/30. The merchandise was delivered FOB shipping point. Freight costs of $970 were paid in cash.
2.	Returned $800 of the inventory that it had purchased because the inventory was damaged in transit. The seller agreed to pay the return freight cost.
3.	Paid the amount due on its account payable to Ross Company within the cash discount period.
4.	Sold inventory that had cost $11,500 for $20,500 on account, under terms 2/10, n/45.
5.	Received merchandise returned from a customer. The merchandise originally cost $2,050 and was sold to the customer for $2,800 cash. The customer was paid $2,800 cash for the returned merchandise.
6.	Delivered goods FOB destination in Event 4. Freight costs of $860 were paid in cash.
7.	Collected the amount due on the account receivable within the discount period.
8.	Sold the land for $6,900.
9.	Recognized accrued interest income of $550.
10.	Took a physical count indicating that $4,800 of inventory was on hand at the end of the accounting period.