Ducharme Corporation was organized by five individuals on January 1, 2020. At the end of January 2020, the following monthly financial data are available: Total revenues Total expenses (excluding income taxes) $306,000 195,300 Income tax expense (all unpaid as at January 31) 34,720 Cash balance, January 31, 2020 67,250 Receivables from customers (all considered collectible) 36,600 Merchandise inventory (by inventory count at cost) 98,700 Payables to suppliers for merchandise purchased from them (will be paid during February 2020) Contributed capital (3,300 shares) 15,950 75,900 No dividends declared in January 2020. Required: 1. Prepare a summarized statement of earnings for the month of January 2020 DUCHARME CORPORATION Summary Statement of Earnings For the Month of January 2020 Total revenues Earnings before income taxes