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Income

Statement

Balance sheet

Complete the following statement: Complete the following statement:

$\begin{array}{cc}\text{P}\text{A}\text{I}\text{N}\text{T}\text{E}\text{R}\text{C}\text{O}\text{R}\text{P}\text{O}\text{R}\text{A}\text{T}\text{I}\text{O}\text{N}& ?\\ \text{B}\text{a}\text{l}\text{a}\text{n}\text{c}\text{e}\text{S}\text{h}\text{e}\text{e}\text{t}& ?\\ \text{A}\text{s}\text{s}\text{e}\text{t}\text{s}& ?\\ \text{C}\text{a}\text{s}\text{h}& ?\\ \text{R}\text{e}\text{c}\text{e}\text{i}\text{v}\text{a}\text{b}\text{l}\text{e}\text{s}\text{f}\text{r}\text{o}\text{m}\text{c}\text{u}\text{s}\text{t}\text{o}\text{m}\text{e}\text{r}\text{s}& ?\\ \text{M}\text{e}\text{r}\text{c}\text{h}\text{a}\text{n}\text{d}\text{i}\text{s}\text{e}\text{i}\text{n}\text{v}\text{e}\text{n}\text{t}\text{o}\text{r}\text{y}& ?\\ \text{T}\text{o}\text{t}\text{a}\text{l}\text{a}\text{s}\text{s}\text{e}\text{t}\text{s}& \text{\$}\\ \text{L}\text{i}\text{a}\text{b}\text{i}\text{l}\text{i}\text{t}\text{i}\text{e}\text{s}& ?\\ \text{P}\text{a}\text{y}\text{a}\text{b}\text{l}\text{e}\text{s}to\text{s}\text{u}\text{p}\text{p}\text{l}\text{i}\text{e}\text{r}\text{s}& ?\\ \text{I}\text{n}\text{c}\text{o}\text{m}\text{e}\text{t}\text{a}\text{x}\text{e}\text{s}\text{p}\text{a}\text{y}\text{a}\text{b}\text{l}\text{e}& ?\\ \text{T}\text{o}\text{t}\text{a}\text{l}\text{l}\text{i}\text{a}\text{b}\text{i}\text{l}\text{i}\text{t}\text{i}\text{e}\text{s}& ?\\ \text{S}\text{t}\text{o}\text{c}\text{k}\text{h}\text{o}\text{l}\text{d}\text{e}\text{r}\text{s}\text{'}\text{E}\text{q}\text{u}\text{i}\text{t}\text{y}& ?\\ \text{C}\text{o}\text{m}\text{m}\text{o}\text{n}\text{s}\text{t}\text{o}\text{c}\text{k}& ?\\ \text{R}\text{e}\text{t}\text{a}\text{i}\text{n}\text{e}\text{d}\text{e}\text{a}\text{r}\text{n}\text{i}\text{n}\text{g}\text{s}& ?\\ \text{T}\text{o}\text{t}\text{a}\text{l}\text{s}\text{t}\text{o}\text{c}\text{k}\text{h}\text{o}\text{l}\text{d}\text{e}\text{r}\text{s}\text{'}\text{e}\text{q}\text{u}\text{i}\text{t}\text{y}& ?\end{array}$Painter Corporation was organized by five individuals on January $1$ of the current year. At the end of January of the current year, the

following monthly financial data are available:

No dividends were declared or paid during January.

Required:

Complete the following two statements:

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