Is my income statement correct?

my balance sheets

On January 1, Year 1, the general ledger of a company includes the following account balances Accounts Debit Credit Cash $ 25,800 Accounts Receivable 47,620 Allowance for Uncollectible Accounts $ 4,900 Inventory 20,700 Land 53,000 Equipment 18,500 Accumulated Depreciation 2,200 Accounts Payable 29,202 Notes Payable (6), due April 1, Year 2) 57, eee Common Stock 42, eee Retained Earnings 3e, 300 Totals $165,600 $165,600 During January Year 1, the following transactions occur January 2 Sold gift cards totaling $9,400. The cards are redeemable for merchandise within one year of the purchase date. January 6 Purchase additional inventory on account, $154, eee. January 15 The company sales for the first halt of the month total $142,680. All of these sales are on account. The cost of the units sold is $77, 300. January 23 Receive $126,180 from customers on accounts receivable. January 25 Pay $97,000 to inventory suppliers on accounts payable. January 28 Write off accounts receivable as uncollectible, $5,58e. January 30 The company sales for the second half of the month total $150,000. Sales include $15,000 for cash and $135,000 on account. The cost of the units sold is $83,000. January 31 Pay cash for monthly salaries, 552,700. 4. Prepare a multiple-step income statement for the period ended January 31, Year 1. Income Statement For the year ended January 31, Year 1 Sales Revenue $ 295.700 Cost of Goods Sold 5.700 Gross Profit $ Salaries Expense $ 52.700 Depreciation Expense 575 Bad Debt Expense 14.750 290,000 Total operating expenses Operating Income Interest Expense Income Before Taxes Income Tax Expense Net Income 68,025 221.975 (285) 221.600 13,700 207.990 $ 5. Prepare a classified balance sheet as of January 31, Year 1. (Enter the Asset Accounts in order of liquidity. Amounts te deducted should be indicated with a minus sign.) Classified Balance Sheet January 31, Year 1 Liabilities Assets Cash Accounts Receivable Less Allowance for Uncollectible Accounts Inventory Deferred Revenue $ 193.000 (1,380) $ 26,600 Income Tax Payable Accounts Payable 191,620 interest Payable 14,400 5,700 $ 13,700 86,200 285 Total Current Assets 238,320 Total Current Liabilities Notes Payable Total Liabilities Stockholders' Equity 53,000 Common Stock 18.500 Retained Earnings 100.185 57.000 157,185 Land Equipment 42,000 107.860 Less: Accumulated Depreciation Total Assets (2.775) $ 307,045 Total Stockholders' Equity Total Liabilities and Stockholders' Equity 149,860 $ 307,045