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Vanishing Games Corporation (VGC) operates a massively multiplayer online game, charging players a monthly subscription of $10. At the start of January 2021, VGC's income

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Vanishing Games Corporation (VGC) operates a massively multiplayer online game, charging players a monthly subscription of $10. At the start of January 2021, VGC's income statement accounts had zero balances and its balance sheet account balances were as follows: 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: a. Received $65,000 cash from customers on 1/1 for subscrittions that had already been earned and charged on account in 2020 b. Purchased 10 new computer servers for $37,900 on 1/2: paid $13,300 cosh and signed a three-year note for the remainder owed. c. Paid $17,400 for an internet advertisement run on 1/3. d. On January 4 , purchased and recelved $3,200 of supplies on account. e. Received $175,000 cash on 1/5 from customers for service revenue earned in January. t On January 6 , paid $3,200 cash for supplies purchased on January 4. 9. On January 7 , sold 18,700 subscriptions at $10 each for services provided during January. Haif was collected in cash and half wos sold on account. h. Paid $325,000 in wages to employees on 1/30 for work done in January. 1. On January 31, received an electric and gas utility bill for $5,700 for January utlity services. The bill will be paid in February. a. Received $65,000 cash from customers on 1/1 for subscriptions that had already been earned and charged on account in 20 b. Purchased 10 new computer servers for $37,900 on 1/2; paid $13,300 cash and signed a three-year note for the remainder ov c. Paid $17,400 for an internet advertisement run on 1/3. d. On January 4 , purchased and received $3,200 of supplies on account. e. Received $175,000 cash on 1/5 from customers for service revenue earned in January. f. On January 6, paid $3,200 cash for supplies purchased on January 4. g. On January 7 , sold 18,700 subscriptions at $10 each for services provided during January. Half was collected in cash and half sold on account. h. Paid $325,000 in wages to employees on 1/30 for work done in January. 1. On January 31, received an electric and gas utility bill for $5,700 for January utility services. The bill will be paid in February. Choose the appropriate accounts to be reported on the income statement. However, you will need to calculate and enter the amount of the net income or loss for the period. 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: a. Recelved $65,000 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 $37,900 on 1/2; paid $13,300 cash and signed a three-year note for the remainder owed. c. Paid $17,400 for an Internet advertisement run on 1/3. d. On January 4 , purchased and recelved $3,200 of supplies on account. e. Received $175,000 cash on 1/5 from customers for service revenue earned in January. f On January 6 , paid $3,200 cash for supplies purchased on January 4. g. On January 7 , sold 18,700 subscriptions at $10 each for services provided during January. Half was collected in cash and half was sold on account. h. Paid $325,000 in wages to employees on 1/30 for work done in January. 1. On January 31, received an electric and gas utility bill for $5,700 for January utility services. The bill will be paid in February. Calculate net profit maroin, expressed as a percent (Round your answer to 1 decimal place.). Not Profit Marpin

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