The following information pertains to Questions 8, 9, & 10

Generis Consulting (GC) provides Environmental, Social, & Governance (ESG) services to small businesses. The following GC financial information is available to prepare budgets for January 2022.

a) The ESG Balance Sheet of December 31, 2021, is:

Cash	$62,000	Accounts Payable	$40,000
Accounts Receivable	$54,000	Note Payable	$10,000
Equipment (net)	$80,000	Common Stock	$50,000
		Retained Earnings	$96,000
Total Assets	$196,000	Total Liabilities & Equity	$196,000

b) Revenue in December 2021 was $90,000, and budgeted revenue for January 2022 is $85,000.

c) 40% of revenue is collected in the month earned, and 60% is collected the following month.

c) Budgeted monthly expenses (excluding interest expense) are:

Salaries	$55,000
Rent	3,000
Depreciation on Equipment	3,000
Utilities	1,200
Office Supplies	800

e) Equipment purchases are paid the month following the purchase. All other expenses are paid in the current month. The $40,000 accounts payable is computer equipment purchased in December 2021. f) The note payable is a 5 year 8% per annum note, taken out in December 2021, with the first loan payment due at the end of January 2022. Interest of $67 and principal of $136 comprise the January 2022 loan payment.

g) Taxes are paid in the month incurred. The tax rate is 20%. (round to the nearest dollar).

What is the Net Income for January 2022?

Group of answer choices

a) $17,612

b) $17,546

c) $25,000

d) $21,933

e) $20,546

What is the ending Cash Balance for January 2022?

Group of answer choices

a) $49,933

b) $42,410

c) $85,410

d) $11,410

e) $45,410

What are the Total Assets as of January 31, 2022

Group of answer choices

a) $176,410

b) $156,410

c) $173,410

d) $173,613

e) $190,000