Problem 4-17 a-b On January 1, 2020, Caroline Lampron and Jenni Meno formed a computer sales and service enterprise in Montreal by investing $106,200 cash. The new company, Whispering Winds Sales and Service, had the following transactions in January: 1. 2. 3. 4. Paid $7,080 in advance for three months' rent of office, showroom, and repair space. Purchased 40 personal computers at a cost of $1,770 each, 6 graphics computers at a cost of $3,540 each, and 25 printers at a cost of $531 each, paying cash on delivery. Sales, repair, and office employees earned $14,868 in salaries during January, of which $3,540 was still payable at the end of January. Sold 30 personal computers for $3,009 each, 4 graphics computers for $5,310 each, and 15 printers for $885 each. Of the sales amounts, $88,500 was received in cash in January and $36,285 was sold on a deferred payment plan. Other operating expenses of $9,912 were incurred and paid for during January; $2,360 of incurred expenses were payable at January 31. 5. Using the transaction data above, prepare (1) a cash basis income statement and (2) an accrual basis income statement for the month of January. (Round answers to 0 decimal places, e.g. 1,524. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Whispering Winds Sales and Service Income Statement Cash Basis Accrual Basis $ $ Using the transaction data above, prepare (1) a cash basis statement of financial position and (2) an accrual basis statement of financial position as at January 31, 2020. (List Current Assets in order of liquidity.) Using the transaction data above, prepare (1) a cash basis statement of financial position and (2) an accrual basis statement of financial position as at January 31, 2020. (List Current Assets in order of liquidity.) Whispering Winds Sales and Service Statement of Financial Position Cash Basis Accrual Basis Assets $ Total Assets $ Liabilities and Owners' Equity Total Liabilities and Owners' Equity