SU 4 Part 4 Required information Exercise 3-218 Complete the accounting cycle (LO3-3, 3-4,3-5,3-6) On January 1 Year the general ledger of a company includes the following account balances Mecounts Credit Cash 324,300 Account Recuival 5.100 Supplies 3.600 Land Recounts Payable 3,700 Common Stock 70,000 latained Barsing 10.100 Totals 18.600 880,600 6.25 points Herences During Year, the following transactions occur January 2 Purchase rental space for one year in advance. $7,500 (5625/month). January Purchase additional supplies on count. 14.000 January 13 provide services to customers on account, 126,000. January 17 Receive cash in advance from customers for services to be provided to the future, 4.200. January 20 Pay cash for valer 512,000 January 22 Receive cash on CCOUS receivable, $24.600. January 29 Pay cash on accounts payable, 54,500. Exercise 3-21B Part 4 4. Prepare an income statement for the period ended January 31, Yeart Income Statement For the year ended January 31 Year 1 Revenues Expenses Total Expenses