Carlo forms a new corporation named Global, Inc. on December 31.
The following are the company transactions for December and January:
31-Dec	Carlo buys shares from Global for cash.					$ 50,000
2-Jan	Global buys inventory for cash.					$ 30,000
3-Jan	Global buys equipment for cash.					$ 35,000
4-Jan	Global pays January rent in cash.					$ 5,000
5-Jan	Global sells inventory for cash.					$ 32,000
5-Jan	The cost of the inventory Global sold on Jan 5					$ 15,000
9-Jan	Global sells inventory on account					$ 10,000
9-Jan	The cost of the inventory Global sold on Jan 9					$ 4,000
10-Jan	Global takes out a bank loan.					$ 7,000
28-Jan	Global pays interest on the loan					$ 100
29-Jan	Global pays a cash dividend.					$ 500
30-Jan	Global incurs tax expense.					$ 1,000

Prepare an income statement and a statement of shareholder equity for the month of January, and a balance sheet for January 31.

Prepare your answer on an Excel spreadsheet, and submit it through the Quiz 1 link.