Vanishing Games Corporation (VGC) operates a massively multiplayer online game, charging players a monthly subscription of $11. 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 $ 1,620,000 236,000 Supplies Equipment Buildings Land Accounts Payable Deferred Revenue Notes Payable (due 2025) Connon Stock Retained Earnings 15,700 909,000 441,000 1,830,000 203,000 150,000 97,000 2,300,000 2,301,700 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 $55,750 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 $35,400 on 1/2: paid $14,300 cash and signed a three-year note for the remainder owed. c. Paid $11,000 for an Internet advertisement run on 1/3. d. On January 4, purchased and received $3,600 of supplies on account. e. Received $240,000 cash on 1/5 from customers for service revenue earned in January. On January 6, paid $3,600 cash for supplies purchased on January 4. g. On January 7, sold 11,200 subscriptions at $11 each for services provided during January. Half was collected in cash and half was sold on account. h. Paid $340,000 in wages to employees on 1/30 for work done in January. On January 31, received an electric and gas utility bill for $5,570 for January utility services. The bill will be paid in February. General Requirement Journal General Ledger Trial Balance Income Statement Stmt of Retained Earnings Balance Sheet Analysis General Journal tab Prepare the journal entries to record the transactions (a) through (i). Review the accounts as shown in the General Ledger and Trial Balance tabs. General Ledger tab Each journal entry is posted automatically to the general ledger. Trial Balance tab The ending balance values from the General Ledger tab flows through to the Trial Balance tab. Income Statement tab Use the drop-down to select the accounts properly included on the income statement. Statement of Retained Earnings tab Prepare the statement of retained earnings for the month ended January 31, 2021. If there are no dividends, include a line that reports Dividends of zero. Balance Sheet tab Prepare a classified Balance Sheet at January 31, 2021. Analysis tab Calculate net profit margin, expressed as a percent. No. Date January 01 Cash Debit General Ledger Account Accounts Receivable Credit Balance No. Date Debit 1,620,000 January 01 Credit Balance 236,000 Supplies Land No. Date Debit Credit Balance No. January 01 15,700 Date January 01 Debit Credit Balance 1,830,000 Buildings Equipment No. Date Debit Credit Balance No. Date Debit Credit Balance January 01 441,000 January 01 909,000 Accounts Payable Deferred Revenue No. Date Debit Credit Balance No. Date Debit Credit Balance January 011 203,000 150,000 Notes Payable (long-term) No. Date Debit January 011 Credit Balance No. 97,000 Date January 01 Common Stock Debit Credit Balance 2,300,000 Retained Earnings No. Date January 01 Debit Credit Balance 2,301,700 The ending balance values from the General Ledger tab flows through to the Trial Balance below. VANISHING GAMES CORPORATION 77 4444 Cash Accounts Receivable Supplies Land Buildings Equipment Accounts Payable Deferred Revenue Notes Payable (long-term) Common Stock Retained Earnings Total Trial Balance January 31, 2021 Account Title < General Ledger Income Statement > Debit S 1,620,000 236,000 Credit 15,700 1,830,000 441,000 909,000 203,000 150,000 97,000 2,300,000 2,301,700 $ 5,051,700 $ 5,051,700 Choose the appropriate accounts to be reported on the income statement. However, you will need to calculate and enter th amount of the net income or loss for the period. VANISHING GAMES CORPORATION Income Statement For the Month Ended January 31, 2021 Requirement General Journal General Ledger Trial Balance Income Statement Stmt of Retained Earnings Balance Sheet Analysis 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 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 Calculate net profit margin, expressed as a percent. (Round your answer to 1 decimal place.) Net Profit Margin %