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Rickys Piano Rebuilding Company has been operating for one year. On January 1, at the start of its second year, its income statement accounts had zero balances and its balance sheet account balances were as follows:

Cash	$	6,800		Accounts Payable	$	12,600
Accounts Receivable		32,750		Deferred Revenue (deposits)		3,250
Supplies		1,850		Notes Payable (long-term)		45,500
Equipment		14,500		Common Stock		7,500
Land		10,050		Retained Earnings		17,300
Building		20,200

Following are the January transactions:

1. Received a $870 deposit from a customer who wanted her piano rebuilt in February.
2. Rented a part of the building to a bicycle repair shop; $355 rent received for January.
3. Delivered five rebuilt pianos to customers who paid $12,775 in cash.
4. Delivered two rebuilt pianos to customers for $6,400 charged on account.
5. Received $5,300 from customers as payment on their accounts.
6. Received an electric and gas utility bill for $675 for January services to be paid in February.
7. Ordered $945 in supplies.
8. Paid $1,750 on account in January.
9. Paid $11,000 in wages to employees in January for work done this month.
10. Received and paid cash for the supplies in (g).

1. 5-a. Prepare an income statement for the month ended and at January 31.

   5-b. Prepare a statement of retained earnings for the month ended and at January 31.

   5-c. Prepare a classified balance sheet for the month ended and at January 31.

   Prepare a classified balance sheet for the month ended and at January 31.

   RICKYS PIANO REBUILDING COMPANY
   Balance Sheet
   For the Month Ended January 31
   Assets
   Current Assets
   Cash
   Accounts Receivable
   Supplies
   Total Current Assets	0
   Land
   Equipment
   Buildings
   Total Assets	$0
   Liabilities
   Current Liabilities
   Accounts Payable
   Deferred Revenue
   Total Current Liabilities	0
   Notes Payable (long-term)
   Total Liabilities	0
   Stockholders' Equity
   Common Stock
   Retained Earnings
   Total Stockholders' Equity	0
   Total Liabilities and Stockholders' Equity	$0

   Prepare a statement of retained earnings for the month ended and at January 31.

   RICKYS PIANO REBUILDING COMPANY
   Statement of Retained Earnings
   For the Month Ended January 31
   Retained Earnings, January 1	$12,775
   Add: Net Income
   Less: Dividends
   Retained Earnings, January 31