Vanishing Games Corporation (VGC) operates a massively multiplayer online game, charging players a monthly subscription of $12. 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 Woges Expense, Advertising Expense, and Utilities Expense. The January transactions are shown below: a. Received $72,250 cash from customers on 1/1 for subscriptions that had already been eamed and charged on account in 2020. b. Purchased 10 new computer servers for $36,100 on 1/2; paid $16,300 cash and signed a three-year note for the remainder owed. c. Paid $11,100 for an Internet advertisement run on 1/3. d. On January 4 , purchased and recelved $5,700 of supplies on account. e. Recelved $245,000 cash on 1/5 from customers for service revenue earned in January. f. On January 6 , paid $5.700 cash for supplies purchased on January 4. g. On January 7, sold 12,600 subscriptions at $12 each for services provided during January. Half was collected in cash and half was sold on account. h. Paid $375,000 in wages to employees on 1/30 for work done in January. i. On January 31 , recelved an electric and gas utility bill for $5,210 for January utility services. The bill will be paid in February. 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 Balonce tabs. General Ledger tab - Each journal entry is posted automatically to the general ledger. Trial Balance ta b - The ending balance values from the General Ledger tab flows through to the Trlal 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. Journal entry worksheet 3 4 5 6 7 8 9 Received $72,250 cash from customers on 1/1 for subscriptions that had already been earned and charged on account in 2020. Record the transaction. Note: Enter debits before credits: Each journal entry is posted automatically to the general ledger. The ending balance values from the General Ledger tab flows through to the Trial Balance below. 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. 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. 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. Calculate net profit margin, expeested as a percent (Round your antwor to 1 decimal place) Net Profit Margin
