Grid iron Prep incorpotated (GIPI) is a service business incorporated in January of the current year to provide personal fraining for athetes aspiring to play eollege footbal the following transoctions occurred during the month ended January 31. a. GIPI issued stock in exchange for $120,000 cash on 1/01 b. GIPI purchased a gymnasium building and gym equipment on 1/02 for $52,000,80% of which related to the gymnasium and 20% to the equioment. c. GIPI paid $400 cash on 1/03 to have the gym equipment refurbished before it could be used. d. GIPI provided $6,000 in training on 104 and expected collection in February. a. GIPI collected $38,000 cash in training fees on 1/10, of which $35,000 related to January and $3,000 related to February. 6. GiPI paid $24,500 of wages and $6,000 in utilities on 1/30. g. GIPI will deprecinte 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 1/31 equal to one-twelfth the yearly amount. h. GIPI received a bill on 1/31 for $260 for advertising done on 1/31. The bill hos not been paid or recorded. 6. GIP uses the aging method for estimating doubtful accounts and, on 1/31, will record an estimated 3 percent of its under30 -day-old accounts as not collectible. 1. GIPI's income tax rate is 30%. Assume depreciation for tax is the same amount as depreciation for financial reporting purposes Use the dropdowns to select the appropriate accounts to be reported on the balance sheet. However, you will need to enter the amount for Accounts Recelvable (net of Allowance for Doubtful Accounts), Buildings and Equipment (net of Accumulated Depredation), Common Stock, and Retained Earnings. (Round your final answers to the nearest whole dollar amount) Use the dropdowns to select the appropriate accounts to be reported on the income statement. However, you will need to calcutste and enter the amount of the fncome before fncome Tax Expense and nct income or loss for the period. (Round your final answers to the nearest whole dollar amount.) Prepare the statement of retained earnings for the month ended January 31. You will need to determine and enter the accounts and batances to prepare the Statement of Retained Eamings. (Round your final answers to the nearest whole dotiar amount.)