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: 160,000 Cash $1,630,000 Accounts Receivable 208.000 Supplies 15,400 Equiperent 936,000 buildings 516,000 Land 1,600,000 Accounts Payable Deterred Revenue 166.000 Notes Payable (due 2025) 150,000 Common Stock 2,700,000 Retained Earnings 1,729,400 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 $62,500 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 $41,100 on 1/2 paid $12,200 cash and signed a three-year note for the remainder owed. c. Paid $13.400 for an Internet advertisement run on 1/3 d on January 4, purchased and received $5,750 of supplies on account. e Received $210,000 cash on 1/5 from customers for service revenue earned in January On January 6, paid $5,750 cash for supplies purchased on January 4. g On January 7, sold 12,300 subscriptions at $11 each for services provided during January. Half was collected in cash and half was sold on account h. Paid $320,000 in wages to employees on 130 for work done in January On January 31, received an electric and gas utility bill for $5,520 for January Utility services. The bill will be paid in February General Stmt of Requirement General Income Journal Retained Trial Balance Ledger Statement Analysis Balance Sheet Earnings General Journal tab - Prepare the journal entries to record the transactions (a) through (1). 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. Regement General Journal > General General Income Stmt of Requirement Journal Retained Ledger Trial Balance Statement Balance Sheet Analysis Earnings Prepare the journal entries to record the transactions (a) through (1). (If no entry is required for a transaction/event, select "No jo entry required" in the first account field.) View transaction list Journal entry worksheet Received $62,500 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 General Journal Debit Credit Date January 01 Record entry Clear entry View general Journal 28 Each journal entry is posted automatically to the general ledger. General Ledger Account No. Cash Debit Date Accounts Receivable Debit Credit Credit No. January 01 Balance 1,630,000 Date January 01 Balance 208,000 Supplies Debit Land No. Date January 01 Credit No. Date Debit Balance 15,400 Credit January 01 Balance 1,600,000 Buildings Debit No. Credit Date January 01 Equipment Debit Balance 516,000 No. Date January 01 Credit Balance 936,000 Accounts Payable Debit Credit Deferred Revenue No. Date January 01 No. Date Balance 160,000 Debit Credit Balance 166,000 No. Balance 150,000 No. Common Stock Debit Credit Date January 01 Notes Payable (long-term) Date Debit Credit January 01 Retained Earnings Date Debit Credit January 01 Balance 2,700,000 No. Balance 1,729,400 General General Stmt of Requirement Trial Balance Income Journal Retained Balance Sheet Ledger Statement Analysis Earnings 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. VANISHING GAMES CORPORATION Income Statement For the Month Ended January 31, 2021 $ 0 $ 0 0 0 0 General Requirement General Stmt of Journal Income Trial Balance Ledger Statement Retained Balance Sheet Analysis Earnings 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 (Income Statement Balance Sheet > General General Stmt of Requirement Income Journal Ledger Trial Balance Retained Balance Sheet Statement Analysis Earnings 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 $ 0 0 0 0 0 0 $ 0 0 0 Balance Sheet Analysis Stmt of General General Income Requirement Journal Trial Balance Retained Ledger Statement Earnings Calculate net profit margin, expressed as a percent. (Round your answer to 1 decimal place.) Not Profit Margin