calculate and enter the amount of the Income before Income Tax Expense and net income or loss for the period. (Round you final answers to the nearest whole dollar amount.) Use the dropdowns to select the appropriate accounts to be reported on the balance sheet. Howover, you will need to enter the amount for Accounts Receivable (net of Allowance for Doubtul Accounts), Buildings and Equipment (net of Accumulated Depreciation), Common Stock, and Retained Earnings. (Round your final answers to the nearest whole dollar amount.) Grid Iron Prep Incorporated (GIPI) is a service business incorporoted in Jonvary of the current year to provide personal training for athletes aspiring to play college footboll, The following transoctions occurred during the month ended January 31 . a. GIPI issued stock in exchange for $130,000 cash on 1/01. b. GIPI purchased a gymnas ium building and gym equipment on 1/02 for $53,000,80% of which related to the gymnasium and 20% to the equipment. c. GIPI paid $500 cosh on 1/03 to have the gym equipment refurbished before it could be used. d. GIP provided $7,000 in training on 104 and expected collection in February. e. GIPl collected $39,000 cash in training fees on 1/0, of which $35,500 related to January and $3,500 related to February. 1. GIPI paid $25,500 of wages and $6,500 in utilies on 1/30. 9. GIPI will o, preciate the gymnasium building using the straight line method over 10 yoars with a residual value of $3,500. Gym equipment will be depreciated using the double-declining-balance method, with an estimated residual value of $3,000 of the end of its four-year useful life. Record depreciation on 1/31 equal to one-twolfth the yearly amount. h. GIPI received a bill on 1/31 for $350 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-oid. accounts as not collectible. f. GIPl's income tax rate is 30%. Assume depreciation for tax is the same amount as depreciation for financial reporting purposes. Use the dropdowns to select the appropriate accounts to be reported on the income statement. However, you wil need to calculate and enter the amount of the income before income Tax Expense and net income or loss for the period. (Round your fial answers to the nearest whole doliar amount.)