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Prepare TopForm Inc.'s balance sheet and income statement for February. TopForm Inc.'s January balance sheet and income statement are provided in the Document section below

Prepare TopForm Inc.'s balance sheet and income statement for February. TopForm Inc.'s January balance sheet and income statement are provided in the Document section below as an example.

TopForm, Inc.

Income Statement

For the Month Ended January 31, 202x

Revenue $6,000
Operating Expenses
Rent Expense 3,000
Advertising Expense 1,000
Depreciation Expense 400
Bad Debt Expense 300
Insurance Expense 200
Utilities Expense 200
Wage Expense 100
Supplies Expense 50
Total Operating Expenses 5,250
Pre-tax Income 750
Income Tax Expense 225
Net Income $ 525
Earnings Per Share $5.25

TopForm, Inc.

Balance Sheet

As of January 31, 202x

Assets
Cash $ 26,000
Accounts Receivable, Net 5,700
Supplies 50
Prepaid Expenses 4,600
Current Assets $ 36,350
Deposits 3,000
Equipment, net 14,000
Total Assets $ 53,350
Liabilities and Owners Equity
Accounts Payable $ 100
Unearned Revenue 2,400
Accrued Wages 100
Accrued Taxes 225
Total Liabilities $ 2,825
Common Stock 50,000
Retained Earnings 525
Total Owners Equity $ 50,525
Total Liabilities and Owners Equity $ 53,350

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