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. 2022 2021 Cash 15,000 $25,000 Retained earnings, Dec. 31 Supplies ? 143,000 4,000 6,000 Dividends Common stock Payroll expense Cost of goods sold Accounts payable Revenues 50,000 50,000 17,000 4,000 132,000 130,000 483,000 ? 15,000 12,000 711,000 689,000 Rent expense 14,000 14,000 Notes payable ? 48,000 Equipment 219,000 ? Selling, administrative and supplies expenses 13,000 10,000 Retained earnings, Jan. 1 ? 88,000 Accounts receivable 36,000 16,000 Required: a. Prepare an income statement, statement of retained earnings and a balance sheet for each year and determine the missing values. b. During January of 2023, the company had the following transactions: Paid $590 for advertising Purchased $400 of supplies on account Made a bank loan payment of $800 Purchased $3,200 of equipment Dividend of $1,400 is paid to owners Jan. 1 Paid rent of $1,600 for the month Jan. 2 Jan. 4 Jan. 6 Jan. 10 Jan. 14 Jan. 19 Jan. 25 Jan. 26 Jan. 31 Jan. 31 Paid utility bill of $550 for the month Sold services to customers for $7,200 on account Received $6,000 from customers on account Paid employee payroll of $11,400 Supplies still on hand were reported at $3,000 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. Question 6 What were the company's cash flows for operating activities for January 2023? Use a positive number to indicate an overall (i.e. net) inflow or a negative number to indicate an overall outflow. -8,140 Question 7 What were the company's cash flows for investing activities for January 2023? Use a positive number to indicate an overall (i.e. net) inflow or a negative number to indicate an overall outflow. -3,200 Question 8 What were the company's cash flows for financing activities for January 2023? Use a positive number to indicate an overall (i.e. net) inflow or a negative number to indicate an overall outflow. -2,200 Question 9 What was the company's net income for January 2023? 69,000 Question 10 What was the company's ending cash balance for January 2023? D Question 11 What was the company's ending supplies balance for January 2023?