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Required Information

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Five Individuals organized Mlami Music Corporation on January $1.$ At the end of January $31,$ the following monthly financial data are avallable:

Total Revenues

operating Expenses

Cash

Accounts Receivable

Supplies

Accounts Payable

common stock

$$146,000$

$92,000$

$38,300$

$26,800$

$43,700$

$16,700$

$38,100$

No dividends were declared or pald during January.

Required:

Complete the following income statement and balance sheet for the month of January.

Complete this question by entering your answers in the tabs below.

Income Statement

Balance Sheet

Prepare an income statement for the month of January.

$\backslash$table$[[$MIAMI MUSIC CORPORATION$],[$Income Statement$],[$For the Month Ended January $31],[$Total Revenues,$],[$Operating Expenses,$],[$Net Income,$]]$