Required information [The following information applies to the questions displayed below.) Five individuals organized Miami Music Corporation on January 1. At the end of January 31, the following monthly financial data are available: Total Revenues Operating Expenses Cash Accounts Receivable Supplies Accounts Payable Common Stock $136,000 91,000 33,300 25,800 41,700 22,700 33,100 No dividends were declared or paid during January. Required: 1. Complete the following income statement and balance sheet for the month of January Income Statement Balance Sheet Prepare an income statement for the month of January. MIAMI MUSIC CORPORATION Income Statement For the Month Ended January 31 Total Revenues Operating Expenses Net Income Complete this question by entering your answers in the tabs belo Income Statement Balance Sheet Prepare the balance sheet for the month of January. MIAMI MUSIC CORPORATION Balance Sheet At January 31 Cash Accounts Receivable Supplies Total Assets Assets $ 0 Liabilities Accounts Payable Total Liabilities Stockholders' Equity 0 Common Stock Retained Earnings Total Stockholders' Equity 0 Total Liabilities and Stockholders' Equity $ 0