Arko Corporation began business on January 1, 2017. For the month of January, the corporation earned $262,000 for services rendered to clients, of which it collected $174,000 in cash. Expenses for the month totaled $144,000, paid in cash. Arko distributed $6,200 in dividends to its stockholders in cash. Prepare an income statement and statement of retained earnings for Arko and write the answers in the spaces. What is the net income (net loss)? What is the ending balance 1-31-17 of retained earnings? What is the total assets as of 1-31-17?