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 data are available: Total Revenues Operating Expenses Cash Accounts Receivable Supplies Accounts Payable O Common Stock $ 138,000 91,200 34,300 26,000 42,100 21,500 34,100 No dividends were declared or paid during January. Part 1 of 3 10 10 points Statement Prepare the balance sheet for the month of January. MIAMI MUSIC CORPORATION Balance Sheet At January 31 Assets Cash $ 34,300 Accounts Receivable 26,000 Supplies 42,100 Total Assets $ 102,400 Liabilities Accounts Payable $ 21,500 Total Liabilities 21,500 Stockholders' Equity Common Stock 34,100 Retained Earnings 25 x Total Stockholders' Equity 34,125 Total Liabilities and Stockholders' Equity $ 55,625