Bottles buys water bottles with the KU logo on them for $7.50 each and resells them on campus for $15 AL STATEMENTS (15 PTS) apiece. During the month of January, the company sold 9,000 water bottles. The following are select account balances at the end of January. ACCOUNT Cash BALANCE Property, Plant and Equipment $26,000 ACCOUNT Taxes Payable BALANCE $16,500 $40,000 Accounts Payable R&D Expense $500 $5,000 Common Stock Wage Expense $8,500 $12,000 Accounts Receivable $5,000 Retained Earnings $64,000 Inventory $35,000 Advertising Expense $5,000 Utility Expense $1,000 Rent Expense $2,000 Wages Payable $8,500 REQUIRED: 1. Prepare an Income Statement for the month of January using the template provided (you may not use all rows) Income Statement for the month of January Gross Profit Operating Income before Taxes Tax Expense (30%) Net Income ACCT 201 | MANAGERIAL ACCOUNTING I Amount HANDOUT-FINANCIAL STATEMENTS | PAG-