Painter Corporation was organized by five individuals on January 1, 2013. At the end of January 2013, the following monthly financial data are available: 306,000 Total revenues $ 185,000 Total expenses (excluding income taxes) Income tax expense (all unpaid as of January 31) 33,300 66,850 Cash balance, January 31, 2013 Receivables from customers (all considered 33,300 collectible) 95,900 Merchandise inventory (by inventory count at cost) Payables to suppliers for merchandise purchased from them 26,550 (will be paid during February 2013) 48,500 Common stock (2,600 shares) No dividends were declared or paid during 2013. Required: Complete the following two statements: No dividends were declared or paid during 2013. Required: Complete the following two statements: Total revenues PAINTER CORPORATION Income Statement For the Month of January 2013 Less: Total expenses (excluding income tax) Pretax income Less: Income tax expense Net income Assets Cash PAINTER CORPORATION Balance Sheet At January 31, 2013 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