A new corporation, ABC Corporation, was created on January 1 of the current year The following transcations occurred during the month of January of the current year: Date 1-Jan 1-Jan 1-Jan 1-Jan 5-Jan 7-Jan 10-Jan 10-Jan 11-Jan 14-Jan 31-Jan 31-Jan 31-Jan 31-Jan 31-Jan Amount The owners put money into the corporation checking account in exchange for shares of common stock The corporation rented a building and paid the first six months rent The corporation bought equipment and furniture on account The corporation hired employees who will be paid the following for each month worked on the 10th of the following month The corporation bought supplies and paid cash The corporation bought inventory and paid cash The corporation pays for advertising in the local newspaper and paid cash The corporaiton pays for one year of insurance and paid cash The corporation makes cash sales The corporation makes sales on account The corporaiton counts the inventory remaining at the end of the month The corporation counts the supplies remaining at the end of the month The corporation paid some of what it owed on account The corporation collects money owed to them on account The corporation decides to depreciate the furniture and equipment over 60 months 131,891 39,511 49,007 29,606 3,338 29,851 896 2,691 39,670 80,658 18,597 1,409 24,503 42,426 Required 1. Make the journal entries required for the month of January in the space below (56 points) 2. Make the adjusting entries required at the end of January in the space below (24 points) 3. Create an adjusted trial balance in the space below (5 points) 4. Create an income statement, statement of owners' equity, and balance sheet in the spaces below (15, 15, and 10 points)