Using ABJ, Inc.'s adjusted trial balance and prior period's balance sheet, prepare the following financial reports:

* Multi-Step Income Statement for the month of January 2015

and

*Statement of Retained Earnings for the Month of January 2015

NOTE: There are not prior period adjustements and all dividents declared are case dividends in the amount of $35,000

	ABJ Adjusted Trial Balance - January 31, 2015	Debits	Credits
	Cash	423,615
	Accounts Receivable	25,000
	Allowance for Doubtful Acc		540
	Interest Receivable	100
	Notes Receivable	15,000
	Merchandise Inventory	7,200
	Store Supplies	8,000
	Office Supplies	500
	Prepaid Insurance	1,600
	Land	375,000
	Building	425,000
	Accum Dep: Building		50,000
	Office Equipment	70,000
	Accum Dep. - Office Equip.		17,500
	Store Equipment	95,000
	Accum Dep. - Store Equipment		25,800
	Patents	65,000
	Accounts Payable		30,000
	Utilities Payable		12,500
	Interest Payable		5,500
	Notes Payable Long Term		220,000
	Bonds Payable		15,0000
	Discount on Bonds Payable	4,050
	Preferred Stock		210,000
	Common Stock		120,000
	Paid in Capital in Excess of Par: Preferred		61,250
	Paid in Capital in Excess of Par: Common		295,000
	Paid in Capital Treasury Stock		90,000
	Retained Earnings		106,750
	Treasury Stock	90,000
	Sales Revenue		431,225
	Sales Discount	750
	Sales Returns & Allowances	5,250
	Interest Revenue		50
	Cost of Goods Sold	125,500
	Insurance Expense	300
	Repairs Expense: Office	2,100
	Depreciation Expense: Building General	10,000
	Depreciation Exp: Office Equip.	2,500
	Supplies Expense - Selling	2,400
	Utilities Expense - Office	1,100
	Office Salaries Expense	25,000
	Office Pay Roll Tax Expense	7,000
	Depreciation Exp - Store Equipment	800
	Amortization Exp - PAT General	800
	Sales Salaries Expense	20,000
	Sales Payroll Tax Expense	5,600
	Utilities Expense - Store	1,200
	Delivery Expense - General	1,500
	Repairs Expense - Store	750
	Bad Debts Expense - Selling	2,000
	Interest Expense	6,500
		$1,826,115.00	$1,826,115.00
	BALANCE SHEET December 31, 2014
ASSETS		LIABILITIES
Cash	125,200	Accounts Payable	50,000
Accounts Receivable	36,000	Utilities Payable	8,000
Merchandise Inventory	27,500	Note Payable	120,000
Office Supplies	1,200	Mortgage Payable	175,000
Prepaid Insurance	2,800	Total Libilities	353,000
Land	175,000
Building	425,000	STOCKHOLDER EQUITY
Accumulated Depreciation, Building	(40,000)	Preferred Stock	52,500
Office Equipment	70,000	Common Stock	115,000
Accumulated Depreciation, Office Equipement	(15,000)	Paid in Capital in Excess of par: Preferred	61,250
Store Equipement	75,000	Paid in Capital in Excess of Par: Common	200,000
Accumulated Depreciation, Store Equipement	(25,000)	Retained Earnings	141,750
Patents	65,800	Total Stockhold Equity	570,500
TOTAL ASSETS	$923,500	TOTAL LIABILITIES AND STOCKHOLDER EQUITY	$923,500