7. Prepare a classified Balance Sheet at January 31, 2021, using your response to part 6 . Required information [The following information applies to the questions displayed below.] Vanishing Games Corporation (VGC) operates a massively multiplayer online game, charging players a monthly subscription of \$11. At the start of January 2021, VGC's income statement accounts had zero balances and its balance sheet account balances were as follows: In addition to the above accounts, VGC's chart of accounts includes the following: Service Revenue, Salaries and Wages Expense, Advertising Expense, and Utilities Expense. The following transactions occurred during the January month: a. Received $55,750 cash from customers on 1/1 for subscriptions that had already been earned and charged on account in 2020 . b. Purchased 10 new computer servers for $35,400 on 1/2; paid $14,300 cash and signed a three-year note for the remainder owed. c. Paid $11,000 for an Internet advertisement run on 1/3. d. On January 4 , purchased and received $3,600 of supplies on account. e. Received $240,000 cash on 1/5 from customers for service revenue earned in January. f On January 6 , paid $3,600 cash for supplies purchased on January 4. g. On January 7, sold 11,200 subscriptions at $11 each for services provided during January. Half was collected in cash and half was sold on account. h. Paid $340,000 in wages to employees on 1/30 for work done in January. i. On January 31 , received an electric and gas utility bill for $5,570 for January utility services. The bill will be paid in February. 7. Prepare a classified Balance Sheet at January 31,2021, using your response to part 6