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A new corporation, ABC Corporation, was created on January 1 of the current year The following transcations occurred during the month of January of the current year: Amount 153,885 22,485 39,423 15,851 81 Date 1-Jan The owners put money into the corporation checking account in exchange for shares of common stock 1-Jan The corporation rented a building and paid the first six months rent 1-Jan The corporation bought equipment and furniture on account 1-Jan The corporation hired employees who will be paid the following for each month worked on the 10th of the following month 5-Jan The corporation bought supplies and paid cash 7-Jan The corporation bought inventory and paid cash 10-Jan The corporation advertised in the local newspaper and paid cash 10-Jan The corporaiton obtained one year of insurance and paid cash 11-Jan The corporation make cash sales 14-Jan The corporation make sales on account 29-Jan The corporation paid some of what it owed on account 29-Jan The corporation collected money owed to them on account 31-Jan The corporation paid a cash dividend to the shareholders Adjustment Inventory remaining at the end of the month Adjustment Supplies remaining at the end of the month Adjustment The corporation decides to depreciate the furniture and equipment over 60 months 43,381 2,761 2,540 162,062 96,976 19,712 51,009 44,998 27,027 34 Required: 1. Make the journal entries required for the month of January in the space below - explanations not needed. NOTE: Use accural accounting as taught in the class (56 points) 2. Make the adjusting entries required at the end of January in the space below - explanations not needed (24 points) 3. Create an adjusted trial balance in the space below (20 points) 4. Create an income statement, statement of owners' equity, and balance sheet in the spaces below (25, 25, and 25 points)