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Vanishing Games Corporation (VGC) operates a massively multiplayer onlinb game, charging players a monthly subscription of $14. At the start of January 2021, VGC's income

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Vanishing Games Corporation (VGC) operates a massively multiplayer onlinb game, charging players a monthly subscription of $14. At the start of January 2021, VGC's income statement accounts had zero balances and its balance sheet account balances were as follows: Cash Accounts Receivable Supplies Equipment Buildings Land Accounts Payable Deferred Revenue Notes Payable (due 2025) Common Stock Retained Earnings $ 2,410,000 218,888 17,700 950,000 440,00 1,620, eee 15e,eee 145, eee 65, eee 2,480,000 2,895,7ee In addition to the above accounts, VGC's chart of accounts includes the following Service Revenue, Salaries and Wages Expense, Advertising Expense, and Utilities Expense. The January transactions are shown below. nt in 2020 The January transactions are shown below: a. Received $54,500 cash from customers on 1/1 for subscriptions that had already been earned and charged on account in 2020 b. Purchased 10 new computer servers for $42.000 on 12; paid $19,200 cash and sighed a three-year note for the remainder owed c Paid $16,800 for an Internet advertisement run on 1/3 d. On January 4, purchased and received $4,600 of supplies on account e Received $195,000 cash on 1/5 from customers for service revenue earned in January f Paid $4,600 cash to a supplier on January 6. g. On January 7, sold 14,400 subscriptions at $14 each for services provided during January, Half was collected in cash and half was sold on account. h. Pald $371,000 in wages to employees on 1/30 for work done in January 1. On January 31, received an electric and gas utility bill for $6,170 for January utility services. The bill well-be paid in February Prepare the statement of retained earnings for the month ended January 31, 2018. You will need to determine and enter the accounts and balances to prepare the Statement of Retained Earnings. If there are no dividends, include a line that reports Dividends of zero. VANISHING GAMES CORPORATION Statement of Retained Earnings For the Month Ended January 31, 2021 Retained Earnings, January 1, 2021 es Retained Earnings, January 31, 2021 Use the dropdowns to select the accounts properly included on the classified balance sheet. You will need to determine and enter the balance of the Common Stock and Retained Earnings accounts in the stockholders' Equity section. VANISHING GAMES CORPORATION Balance Sheet At January 31, 2021 $ OO 0 OOO (Ch. 1-3) i VANISHING GAMES CORPORATION Balance Sheet At January 31, 2021 $ 0 0 0 0 O 0 0 $ 0 0 0 $ Q 0 0 0 es

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