Grid Iron Prep Incorporated $($GIPI$)$ is a service business incorporated in January of the current year to provide personal training for athletes aspiring to play college football. The following transactions occurred during the month ended January $31.$

a$.$ GIPI issued stock in exchange for $$120,000$ cash on $\frac{1}{01}.$

b$.$ GIPI purchased a gymnasium building and gym equipment on $\frac{1}{02}$ for $$52,000,80\%$ of which related to the gymnasium and $20\%$ to the equipment.

c$.$ GIPI paid $$400$ cash on $\frac{1}{03}$ to have the gym equipment refurbished before it could be used.

d$.$ GIPI provided $$6,000$ in training on $\frac{1}{04}$ and expected collection in February.

e$.$ GIPI collected $$38,000$ cash in training fees on $\frac{1}{10},$ of which $$35,000$ related to January and $$3,000$ related to February.

f$.$ GIPI paid $$24,500$ of wages and $$6,000$ in utilities on $\frac{1}{30}.$

g$.$ GIPI will depreciate the gymnasium building using the straight$-$line method over $10$ years with a residual value of $$3,000.$ Gym equipment will be depreciated using the double$-$declining$-$balance method, with an estimated residual value of $$2,500$ at the end of its four$-$year useful life. Record depreciation on $\frac{1}{31}$ equal to one$-$twelfth the yearly amount.

h$.$ GIPI received a bill on $\frac{1}{31}$ for $$260$ for advertising done on $\frac{1}{31}.$ The bill has not been paid or recorded.

i$.$ GIPI uses the aging method for estimating doubtful accounts and, on $\frac{1}{31},$ will record an estimated $3$ percent of its under$-30-$day$-$old accounts as not collectible.

j$.$ GIPI's income tax rate is $30\%.$ Assume depreciation for tax is the same amount as depreciation for financial reporting purposes.

$\backslash$table$[[$Requirement$,\backslash$table$[[$General$],[$Joumal$]],\backslash$table$[[$General$],[$Ledger$]],\backslash$table$[[$Income$],[$Statement$]],\backslash$table$[[$Retained$],[$Earmings$]],$Balance $5]]$

Use the dropdowns to select the appropriate accounts to be reported on the income statement. However, you will need to calculate and enter the amount of the Income before Income Tax Expense and net income or loss for the period. $($Round your final answers to the nearest whole dollar amoun. INCOME BEFORE INCOME TAX EXPENSE AND NET INCOME ARE WRONG m