prepare the month ended january 31st 2025, single step income statement of water way company

Requirement 3. Prepare the month ended January 31, 2025, single step income statement of Water Way Company. Water Way Company Income Statement Month Ended January 31, 2025 Revenues: Total Revenves Expensos: Merchandising Transactions Jan. 1 Purchased 20T-shirts at $15 each and paid cash. Jan. 2 Sold 9 T-shirts for $23 each, total cost of $135. Received cash. Jan. 3 Purchased 40 T-shirts on account at $17 each. Terms 3/10,n/30, Jan. 7 Paid the supplier for the T-shirts purchased on January 3 , less discount. Jan. 8 Realized 11 T-shirts from the January 1 order were printed wrong and returned them for a cash refund. Jan. 10 Sold 30 T-shirts on account for $23 each, total cost of $510. Terms 4/15,n/45. Jan. 12 Received payment for the T-shirts sold on account on January 10, less discount. Jan. 14 Purchased 210 T-shirts on account at $15 each. Terms 5/15,n/30. Jan. 18 Water Way Company called the supplier from the January 14 purchase and told them that some of the T-shirts were the wrong color. The supplier offered a $90 purchase allowance. Jan. 20 Paid the supplier for the T-shirts purchased on January 14, less the allowance and discount. Jan. 21 Sold 120 T-shirts on account for $23 each, total cost of $1,753. Terms 4/20,n/30. Jan. 23 Received a payment on account for the T-shirts sold on January 21 , less discount. Jan. 25 Purchased 300 T-shirts on account at $17 each. Terms 5/10,n/30, FOB shipping point. Jan. 27 Paid freight associated with the January 25 purchase, $30. Jan. 29 Paid for the January 25 purchase, less discount. Jan. 30 Sold 270 T-shirts on account for $23 each, total cost of \$4,067. Terms 2/10,n/30. Jan. 31 Received payment for the T-shirts sold on January 30 , less discount