1 Painter Corporation was organized by five individuals on January 1 of the current year. At the end of January of the current year, the following monthly financial data are available: Total revenues Total expenses (excluding income taxes) $302,000 198,000 00:56:15 Income tax expense (all unpaid as of January 31) Cash balance, January 31 34,200 65,850 Receivables from customers (all considered collectible) Merchandise inventory (by inventory count at cost) 34,200 95,400 Payables to suppliers for merchandise purchased from them (will be paid during February current year) Common stock 27,950 63,500 No dividends were declared or paid during January. Required: Complete the following two statements: Complete this question by entering your answers in the tabs below. Income Statement Balance sheet Complete the following statements: PAINTER CORPORATION Income Statement Total revenues