Can someone please help me correct where i went wrong within the problem, and if possible show it on an excel spreadsheet so i can clearly see where everything goes. Thank you for your help, have i hope you have a great easter, stay safe!

Grid Iron Prep Inc (GIPI) is a service business Incorporated in January of the current year to provide personal training for athletes aspiring to play college football. The following transactions occurred during the month ended January 31 a GIPI Issued stock in exchange for $140.000 cash on 101 b. GIPI purchased a gymnasium building and gym equipment on 1/02 for $54.000, 80% of which related to the gymnasium and 20% to the equipment C GIPI paid $600 cash on 1/03 to have the gym equipment refurbished before it could be used. d. GIPI provided $8.000 in training on 1/04 and expected collection in February GIPI collected $40.000 cash in training fees on 1/10, of which $36.000 related to January and $4,000 related to February GIPI pald $26.500 of wages and $7.000 in utilities on 160 g. GIPI will depreciate the gymnasium building using the straight-line method over 10 years with a residual value of $4.000. Gym equipment will be depreciated using the double-decilning-balance method, with an estimated residual value of $5.500 at the end of its four-year useful life. Record depreciation on 131 equal to one-twelfth the yearly amount n. GIPI received a bill on 131 for $240 for advertising done on 1/31 The has not been paid or recorded GIPI uses the aging method for estimating doubtful accounts and on 31 will record an estimated 3 percent of its under 30-day-old accounts as not collecuble. GIPI's income tax rate is 30%. Assume depreciation for tax is the same amount of depreciation for financial reporting purposes 140,000 Common Stock 140,000 Buildings 43,200 10,800 Equipmer Cash 54,000 600 Equipment Cash 800 8,000 Accounts Receivable Service Revenue 8.000 40,000 Cash Service Revenue Deferred Revenue 38,000 4,000 Salaries and Wages Expense les Exe 28,500 7.000 33.500 Depreciation Expense Accumulated Depreciation Equipment Accumulated Depreciation Buildings 4503 327 240 Advertising Expense Accounts Payable 240 Bad Debt Expense Alowance for Doubtful Hoc Income Tax Extense Income Tax Parable Answer is not complete. General Journal Requirement Income General Ledger Trial Balance Statement of Retained Statement Balance Sheet Earnings Choose the appropriate accounts to be reported on the income statement. However, you will need to calculate and enter the amount of the Income before Income Tax Expense and net income or loss for the period. (Round your final answers to the nearest whole dollar amount.) GRIDIRON PREP INC. Income Statement For the Month Ended January 31 Revenue Service Revenue 44,000 Expenses Salaries and Wages Expense Utilities Expense Depreciation Expense Advenising Excoense Bad Debt Expense ss a esselse e Tota Expenses ncome before income Tax Expense nome Tax Excense Net Income ISB/4708 WMDwers not complete. Requirement General Journal General Ledger Trial Balance Income Statement Statement of Retained Earnings Balance Sheet Use the dropdowns to select the accounts properly included on the balance sheet. However, you will need to enter the amount of the Accounts receivable (net of Allowance for Doubtful Accounts), Buildings, Equipment (net of Accumulated Depreciation), Common stock and Retained earnings. (Round your final answers to the nearest whole dollar amount) GRID IRON PREP INC Balance Sheet As of January 31 Assets Assets Rocounts Receivable Total Assets Buldings Equipment Total Current Assets 9000 9066000 91,900 8.000 99.000 43 2003 11.400 3 164.500 OS 240 Current Liabilities Allowance for Doubtful Accounts Accumulated Depreciation-Buldings Accumulated Depreciation Equipment Answer is not complete. Requirement General Journal General Ledger Trial Balance Income Statement Statement of Retained Earnings Prepare the statement of retained earnings for the month ended January 31. You will need to determine and enter the accounts and balances to prepare the Statement of Retained Earnings. (Round your final answers to the nearest whole dollar amount GRIDIRON PREP.INC Statement of Retained Earnings For the Month Ended January 31 Balance, January 1 Balance January