During January, the following transactions were completed for Kennesaw Cleaners, Inc (KCI).

1-Jan On January 1, KCI issued stock in exchange for $25000 cash.

2-Jan On January 2, KCI purchased a truck for $14,000, paying $2,000 cash down and signing a 5-year, 2% note for the remaining $12,000.

3-Jan On January 3, KCI purchased cleaning supplies for $1000 on account to be used over several months.

5-Jan On January 5, KCI prepaid $2400 for a one-year insurance policy. Coverage began on January 1. 10-Jan On January 10, KCI sent invoices to customers amounting to $3500 for completed cleaning services. 15-Jan On January 15, KCI paid $2800 for employee salaries for work performed in January. 16-Jan On January 16, KCI collected $2625 from customers billed on January 10. 20-Jan On January 20, KCI collected $1,000 in advance from a customer for February cleaning services. 25-Jan On January 25, KCI makes a cash payment on truck note for $500. 31-Jan On January 31, KCI paid a cash dividend of $100.

At the end of January, KCI analyzed the following transactions for which journal entries have not yet been prepared.

31-Jan An inventory count at the close of business on January 31 reveals that $550 of supplies are still on hand. 31-Jan Insurance of $200 expires each month. 31-Jan The truck has a useful life of 5 years (60 months) and has a salvage value of $2,000.

31-Jan Completed cleaning services for customers for a total of $5000, but have not yet sent out the invoices.

Prepare the Income Statement, Statement of Retained Earnings, and the Balance Sheet.

Prepare the Closing Journal Entries, Post to the General Ledger (T-Accounts), and Prepare a Post-Closing Trial Balance.