Painter Corporation was organized by five individuals on January 1 of the current year. At the end of January of the current year, the following monthly financial data valable Total revenues Total expenses (excluding income taxes) Income tax expense (unpaid as of January 31) Cash balance, January 31 Receivables from customers (or considered collectitle) Merchandise inventory to inventory count at cow) Payables to suppliers for merchandise purchased from them will be paid during February Current year) Common stock $299 000 189,000 33.200 05.050 33.200 35,700 27.550 57.200 No dividends were declared or paid during January Required: Complete the following two statements: PAINTER CORPORATION Income Statement Total revenues Los Total expenses (excluding income tax) Pretax income Les income tax expense Net Incom PAINTER CORPORATION Balance Sheet Assets Cash Receivables from customers Merchandise inventory Total assets Liabilities Payables to suppliers Income taxes payable Total liabilities Stockholders' Equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity Q Search or enter esc %