At the beginning of the current season on April 1, the recordsof Flounder Pro Shop showed Cash $2,940, Inventory $3,500, andCommon Stock $6,440. The following transactions occurred duringApril 2017.

Apr. 5		Purchased golf bags, clubs, and balls on account from Arnie Co.$2,000.
9		Received credit from Arnie Co. for merchandise returned$600.
10		Sold merchandise on account to members $1,390. The merchandisesold had a cost of $750.
12		Purchased golf shoes, sweaters, and other accessories onaccount from Woods Sportswear $1,070.
14		Paid Arnie Co. in full.
17		Received credit from Woods Sportswear for merchandise returned$70.
20		Made sales on account to members $930. The cost of merchandisesold was $550.
21		Paid Woods Sportswear in full.
30		Received payments on account from members $1,280.

Prepare a tabular summary that includes the following accounts:Cash, Accounts Receivable, Inventory, Accounts Payable, CommonStock, Sales Revenue, Sales Returns and Allowances, and Cost ofGoods Sold. Enter the beginning balances in the summary, Record theApril transactions using a perpetual inventory system.(Enter negative amounts using either a negative signpreceding the number e.g. -45 or parentheses e.g.(45).) and Prepare an income statement through grossprofit for the month of April 2017.