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The Duluth Company was founded on January 1, 2019; since then, the company has been fairly successful; however, in an effort to save some money,

The Duluth Company was founded on January 1, 2019; since then, the company has been fairly successful; however, in an effort to save some money, the president has been keeping track of the financial records rather than hiring a professional accountant. Although some data is missing, a comparative report of year-end account balances appears below; all numbers are as of December 31st unless noted otherwise. Common stock Cash 2021 40,000 2020 40,000 14,000 24,000 Retained earnings, Dec. 31 ? 138,000 Supplies 6,000 8,000 Dividends 15,000 3,000 Payroll expense Cost of goods sold Accounts payable Revenues 130,000 126,000 492,000 ? 14,000 12,000 703,000 689,000 Rent expense 12,000 12,000 Notes payable Equipment ? 38,000 219,000 ? Selling and administrative expenses 11,000 9,000 Retained earnings, Jan. 1 Accounts receivable ? 86,000 28,000 16,000 the missing values. b. During January of 2022, the company had the following transactions: Jan. 1 Paid rent of $1,200 for the month Jan. 2 Jan. 3 Purchased $300 of supplies on account Purchased $2,800 of equipment Jan. 6 Jan. 10 Sold services to customers for $8,200 on account Paid $890 for advertising Jan. 14 Received $4,000 from customers on account Jan. 18 Paid utility bill of $630 for the month Jan. 24 Made a bank loan payment of $600 Jan. 26 Dividend of $1,200 is paid to owners Jan. 31 Jan. 31 Paid employee payroll of $10,300 Supplies still on hand were reported at $5,000 Prepare a tabular analysis for January, record the transactions and then prepare a statement of cash flows, income statement, statement of retained earnings and balance for the company

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