Wallys Widget Company (WWC) incorporated near the end of 2011. Operations began in January of 2012. WWC prepares adjusting entries and financial statements at the end of each month. Balances in the accounts at the end of January are as follows:

Cash	$	20,420		Unearned Revenue (35 units)	$	4,950
Accounts Receivable	$	11,450		Accounts Payable (Jan Rent)	$	2,500
Allowance for Doubtful Accounts	$	(1,500)		Notes Payable	$	16,000
Inventory (40 units)	$	3,600		Contributed Capital	$	6,200
				Retained Earnings Feb 1, 2012	$	4,320

1. Prepare the financial statements at the end of February. (Balance Sheet only, items to be deducted must be indicated with a negative amount.)

2. Make a balance sheet