ABC Company had the following transactions during the month of January 2023:

Jan 1: Purchased inventory on credit for $20,000.
Jan 10: Sold inventory on credit for $30,000.
Jan 15: Paid $10,000 cash to suppliers for the inventory purchased on Jan 1.
Jan 20: Received $20,000 cash from customers for the inventory sold on Jan 10.
Jan 25: Paid $5,000 cash for rent expense.
Jan 31: Received a bill for $2,000 for utilities expense incurred during the month of January.

Required:

(a) Record the above transactions in journal entry form.

(b) Post the journal entries to the general ledger accounts.

(c) Prepare a trial balance as of January 31, 2023.

(d) Prepare an income statement and a balance sheet as of January 31, 2023.

(e) Calculate the current ratio as of January 31, 2023.

Assume that ABC Company uses a perpetual inventory system and that the inventory purchased and sold during the month had a cost of $12,000 and $18,000, respectively.