Please do journal entries, income statment, statment of retained earnings, and balance sheet for this problem

Gnd iron Piep incorporated (GIPi) 15 a service business incorporated in January of the current year to provide personal training for athietes aspiring to play college footboll. The following transactions occurred during the month ended January 31 a. GIPlissued stock in exchange for $230,000 cash on 1/01 b GIPI purchased a gymnastum bullding and gym equipment on 1/02 for $59,000,80% of which related to the gymnas lum and 20% to the equipment c. Gipi paid $500 cash on 1103 to have the gym equipment refurbished before it could be used. a. GiPi provded $10,000 in training on 104 and expected collection in February e. GiPI collected $43,000 cash in training fees on 1110 , of which $38,000 related to January and $5,000 related to February f GIPI paid $28,000 of wages and $8,000 in utilites on 1/30 9. Glpi will deprecrote the gymnaslum buliding using the straight-line method over 10 years with a residual value of $4,000 Gym equipment wiil be depreciated using the double-declining-balance thethod, 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-tweifth the yearly amount h. GIPI recelved a bill on 1/31 for $630 for advenishn done on 1/31. The bili has not been pald or recorded. Wipl uses the aging method for estimating doubtful accounts and, an 1/31, will record an estimated 3 percent of itc under-30-day-old occounts as not collectible. GIPY's income tax rate is 30 . Assume depreciavon for tax is the same amount as depreciation for financial reportng purposes. Prepare joumal entries to record the transactions and adjustments listed in (a) to (j). Review the accounts as shown in the General Ledger and Thal Balance tabs. (If no eatry is required for a transaction/event, select No Jourhal Entry Regaired io the first acceunt hield. Round your final an mers to the nearest whole dollar amount.) GRID IRON PREP INCORPORATED Income Statement \begin{tabular}{|l|} \hline GRID IRON PREP INCORPORATED \\ \hline Statement of Retained Earnings \\ \hline For the Month Ended January 31 \\ \hline Balance, January 1 \\ \hline Dividends \\ \hline Balance, January 31 \\ \hline \end{tabular} Gnd iron Piep incorporated (GIPi) 15 a service business incorporated in January of the current year to provide personal training for athietes aspiring to play college footboll. The following transactions occurred during the month ended January 31 a. GIPlissued stock in exchange for $230,000 cash on 1/01 b GIPI purchased a gymnastum bullding and gym equipment on 1/02 for $59,000,80% of which related to the gymnas lum and 20% to the equipment c. Gipi paid $500 cash on 1103 to have the gym equipment refurbished before it could be used. a. GiPi provded $10,000 in training on 104 and expected collection in February e. GiPI collected $43,000 cash in training fees on 1110 , of which $38,000 related to January and $5,000 related to February f GIPI paid $28,000 of wages and $8,000 in utilites on 1/30 9. Glpi will deprecrote the gymnaslum buliding using the straight-line method over 10 years with a residual value of $4,000 Gym equipment wiil be depreciated using the double-declining-balance thethod, 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-tweifth the yearly amount h. GIPI recelved a bill on 1/31 for $630 for advenishn done on 1/31. The bili has not been pald or recorded. Wipl uses the aging method for estimating doubtful accounts and, an 1/31, will record an estimated 3 percent of itc under-30-day-old occounts as not collectible. GIPY's income tax rate is 30 . Assume depreciavon for tax is the same amount as depreciation for financial reportng purposes. Prepare joumal entries to record the transactions and adjustments listed in (a) to (j). Review the accounts as shown in the General Ledger and Thal Balance tabs. (If no eatry is required for a transaction/event, select No Jourhal Entry Regaired io the first acceunt hield. Round your final an mers to the nearest whole dollar amount.) GRID IRON PREP INCORPORATED Income Statement \begin{tabular}{|l|} \hline GRID IRON PREP INCORPORATED \\ \hline Statement of Retained Earnings \\ \hline For the Month Ended January 31 \\ \hline Balance, January 1 \\ \hline Dividends \\ \hline Balance, January 31 \\ \hline \end{tabular}