On January 1, 2017. Muchon Flying Experience Ltd., a company that provides flying lessons, was started with an investment of $45,000 cash in the business. Following are the assets and liabilities of the company on May 31, 2017, and the revenues and expenses for the month of May (all amounts in thousands). Cash Accounts Receivable Equipment Service Revenue Advertising Expense Accounts Payable $ 9,000 14,840 128,000 13,600 1,000 2,800 Notes Payable Rent Expense Maintenance and Repairs Expense Gasoline Expense Utilities Expense $ 56,000 2,000 800 5,000 800 No additional investments were made in May, but the company paid dividends of $960,000 during the month. Required: 1. Prepare a statement of comprehensive income and a statement of retained earnings for the month of May and a balance sheet at January 31. (Show numbers in thousands.) 2. Prepare a statement of comprehensive income and a statement of retained earnings for May assuming the following data are not included above: (1) $1,800,000 worth of services were performed and billed but not collected at January 31, and (2) $3,000,000 of gasoline expense was incurred but not paid