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Grid Iron Prep Incorporated (GIPI) is a service business incorporated in January of the current year to provide personal training for athletes aspiring to play college footbali. The following transactions occurred during the month ended January 31. a. GIPI issued stock in exchange for $230,000 cash on 101 . b. GIPI purchased a gymnasium building and gym equipment on 102 for $59,000,80% of which related to the gymnaslum and 20% to the equipment. c. GIPI poid $500 cash on 1/03 to have the gym equipment refurbished before it could be used. d. GIPI provided $10,000 in training on 104 and expected collection in February. e. GIPI collected $43,000 cash in training fees on 1/10, of which $38,000 related to January and $5,000 related to February f GIPI paid $28,000 of wages and $8,000 in utilities on 1/30. g. GIPI will depreciate the gymnasium building using the straight-ine method over 10 years with a residual value of $4,000, Gym equipment will be depreciated using the double-declining-balance method, with an estimated residual value of $2,000 at the end of its four-year useful life. Record depreciation on 1/31 equal to one-twelth the yearly amount. h. GIPI received a bill on 1/31 for $630 for advertising done on 1/31. The bill has not been paid or recorded. 1. GIPI uses the aging method for estimating doubtful accounts and, on 1/31, will record an estimated 3 percent of its under-30-day-old accounts as not collectible. 1. GIPI's income tax rate is 30%. Assume depreciation for tax is the same amount as depreciation for financial reporting purposes. 8 Answer is not complete. Use the dropdowns to select the appropriate accounts to be reported on the balance sheet, However, you will need to enter the amount for Accounts Recelvable (net of Allowance for Doubtful Accounts), Builldings and Equlpment (net of Accumulated Depreciation), Common Stock, and Retained Eamings. (Round your final answers to the nearest whole dollar amount.)