Total revenues Total expenses (excluding income taxes) $296,000 190,000 Income tax expense (all unpaid as of January 31) 33,600 Cash balance, January 31 66,350 Receivables from customers (all considered collectible) Merchandise inventory (by inventory count at cost) 33,600 95,000 Payables to suppliers for merchandise purchased from them (will be paid during February current year) 27,550 Common stock 61,400 No dividends were declared or paid during January. Required: Complete the following two statements: Complete this question by entering your answers in the tabs below. Income Statement Balance sheet Complete the following statements: PAINTER CORPORATION Income Statement Total revenues Less: Total expenses (excluding income tax) Pretax income Less: Income tax expense $ 296,000 190,000