7 Painter Corporation was organized by five Individuals on January 1, 2013. At the end of January 2013, the following monthly financial data are available: 1 points Total revenues Total expenses (excluding income taxes) $298,000 189,000 eBook Income tax expense (all unpaid as of January 33,200 31) + 66,850 Cash balance, January 31, 2013 Hint Receivables from customers (all considered 33,200 collectible) Merchandise Inventory (by inventory count at 95,300 Print cost) Payables to suppliers for merchandise purchased from them 28,350 Reference (will be paid during February 2013) Common stock (2,600 shares) 58,000 No dividends were declared or paid during 2013. Required: Complete the following two statements: PAINTER CORPORATION Income Statement For the Month of January 2013 Total revenues Less: Total expenses (excluding income tax) Pretax income Less: Income tax expense Net income Assets Cash PAINTER CORPORATION Balance Sheet At January 31, 2013 Receivables from customers Merchandise inventory Total assets Liabilities Payables to suppliers Income taxes payable Total liabilities Stockholders' Equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity