Stacey's Piano Rebuilding Company has been operating for one year. At the start of the second year, its income statement accounts had zero balances and its balance sheet account balances were as follows: Cash $7,100 Accounts payable $8,700 Accounts receivable 30,200 Unearned revenue 3,640 Supplies 1,490 Long-term note payable 47,600 Equipment 9,800 Common stock 186 Land Building 7,800 27,900 Additional paid-in capital 744 Retained earnings 23,420 a. Rebuilt and delivered five pianos in January to customers who paid $19,400 in cash. b. Received a $530 deposit from a customer who wanted her piano rebuilt. c. Rented a part of the building to a bicycle repair shop; received $920 for rent in January. d. Received $7,900 from customers as payment on their accounts. e. Received an electric and gas utility bill for $480 to be paid in February. f. Ordered $900 in supplies. g. Paid $1,340 on account in January. h. Received from the home of Stacey Eddy, the major shareholder, a $930 tool (equipment) to use in the business in exchange for 130 shares of $1 par value stock. i. Paid $14,100 in wages to employees who worked in January. j. Declared and paid a $1,600 dividend (reduce Retained Earnings and Cash). k. Received and paid cash for the supplies in (f). 1. Paid $320 in interest expense on the long-term note payable. STACEY'S PIANO REBUILDING COMPANY Income Statement (unadjusted) For the Month Ended January 31, Year 2 Operating revenues: Rebuilding fees revenue Total operating revenues Operating expenses: Wages expense Utilities expense $ 19,400 19,400 14,100 480 Total operating expenses 14,580 Operating income 4,820 Other items: Rent revenue Interest expense 920