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Five individuals organized Moncton Clay Corporation on January 1. On January 31, the following monthly financial data are available: Total Revenues Operating Expenses Cash Accounts

Five individuals organized Moncton Clay Corporation on January 1. On January 31, the following monthly financial data are available: Total Revenues Operating Expenses Cash Accounts Receivable Supplies Accounts Payable Contributed Capital No dividends were declared or paid during January. Required: 1. Complete the following income statement and balance sheet for the month of January. $131,000 90,500 30.800 25,300 40,700 25,700 30,600

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