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 are available: Total revenues Total expenses (excluding income taxes) $306,000 187,000 Income tax expense (all unpaid as of January 31) 32,700 Cash balance, January 31 65,450 Receivables from customers (all considered collectible) Merchandise inventory (by inventory count at cost) 32,700 96,200 Payables to suppliers for merchandise purchased from them 26,650 (will be paid during February current year) Common stock 48,700 No dividends were declared or paid during January. Required: Complete the following two statements: Complete this question by entering your answers in the tabs below. Income Statement Balance sheet Complete the following statements: PAINTER CORPORATION Balance Sheet Assets Cash Receivables from customers Merchandise inventory Total assets Liabilities Payables to suppliers Income taxes payable