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Help, after fixing this, pls prepare a Income Statement, statement of retained earning and balance sheet C9-1 Accounting for Operating Activities (Including Depreciation) and Prep

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C9-1 Accounting for Operating Activities (Including Depreciation) and Prep 2, 8-2 9-2, 9-3] Grid Iron Prep Inc. (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 1. GIPI issued stock in exchange for $100,000 cash on 1/01 2. GIPI purchased a gymnasium building and gym equipment on 1/02 for $50,000, 80% of which related to the gymnasium and 20% to the equipment. 3. GIPI paid $260 cash on 1/03 to have the gym equipment refurbished before it could be used. 4. GIPI provided $4,000 in training on 1/04 and expected collection in February. 5. GIPI collected $36,000 cash in training fees on 1/10, of which $34,000 was earned in January and $2,000 would be in February 6. GIPI paid $23,000 of wages and $7,000 in utilities on 1/30. 7. GIPI will depreciate the gymnasium building using the straight-line method over 20 years with a residual value of $2,000. Gym equipment will be depreciated using the double-declining-balance method, with an estimated residual value of $2,250 at the end of its four-year useful life. Record depreciation on 1/31 equal to one-twelfth the amount. B. a bil on 1h31 for $350 for advertising done on 1131. The bill has not been paid or recorded 9. GIPI uses the aging method for estimating doubtful accounts and, on 1131, will record an estimated 3 ercent of its under 30 accounts as collectible 10 GIPIs income tax rate is 30%. Assume depreciation for tax is the same amount as depreciation for financial reporting purposes. Requirement General al Balance Income Journal Statement of Retained the and listed in (1)-0) Review th General Ledger and Trial Balance tabs. Round your answers to nearest whole dollar. select "No journal entry required" in the first account field.)

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