anishing Games Corporation (VGC) operates a massively multiplayer online game, charging players a monthly subscription of $13. At the start of January 2021, VGCs income statement accounts had zero balances and its balance sheet account balances were as follows:

Cash	$ 2,000,000
Accounts Receivable	187,000
Supplies	23,900
Equipment	886,000
Buildings	463,000
Land	1,660,000
Accounts Payable	130,000
Deferred Revenue	88,000
Notes Payable (due 2025)	70,000
Common Stock	2,300,000
Retained Earnings	2,631,900

In addition to the above accounts, VGCs chart of accounts includes the following: Service Revenue, Salaries and Wages Expense, Advertising Expense, and Utilities Expense. The January transactions are shown below:

1. Received $70,000 cash from customers on 1/1 for subscriptions that had already been earned and charged on account in 2020.
2. Purchased 10 new computer servers for $31,500 on 1/2; paid $16,500 cash and signed a three-year note for the remainder owed.
3. Paid $16,200 for an Internet advertisement run on 1/3.
4. On January 4, purchased and received $3,900 of supplies on account.
5. Received $190,000 cash on 1/5 from customers for service revenue earned in January.
6. Paid $3,900 cash to a supplier on January 6.
7. On January 7, sold 19,300 subscriptions at $13 each for services provided during January. Half was collected in cash and half was sold on account.
8. Paid $400,000 in wages to employees on 1/30 for work done in January.
9. On January 31, received an electric and gas utility bill for $6,010 for January utility services. The bill will be paid in February.

repare the statement of retained earnings for the month ended January 31, 2018. You will need to determine and enter the accounts and balances to prepare the Statement of Retained Earnings. If there are no dividends, include a line that reports Dividends of zero.

VANISHING GAMES CORPORATION
Statement of Retained Earnings
For the Month Ended January 31, 2021
Retained Earnings, January 1, 2021
Add: Net Income
Less: Dividends
Retained Earnings, January 31, 2021