You will need to determine and enter the beginning balances and ending balances. The ending balance is calculated for you. You need to complete the stock issuance, net income and dividends to calculate the correct ending balances. If the cell should be zero, leave it blank. Decreases should be input as a negative amount. Adjusted ABC Coporation Statement of Stockholders' Equity For the Month Ended January 31 Common Stock Additional Paid-In Capital, Common Retained Earinings Beginning Stock Issuances Net Income Dividends Ending $ 0 $ 0 $ 0 Required information ABC Corporation was formed at the beginning of last year. The balances on its post-closing trial balance prepared on December 31, at the end of its first year of operations, were as follows: $21,000 10,000 200 10,500 1,200 25,000 2,400 Cash Accounts Receivable Allowance for Doubtful Accounts Inventory Prepaid Rent Equipment Accumulated Depreciation Accounts Payable Salaries and Wages Payable Deferred Revenue Interest Payable Note Payable (long-term) Common Stock Additional Paid-In Capital, Common Retained Earnings 2,500 4,000 300 20,000 12,000 18,000 8,300 The following information is relevant to the first month of operations in the following year: ABC sells its inventory at $200 per unit. ABC's January 1 inventory balance consists of 140 units at a total cost of $10,500. ABC's policy is to use the FIFO method, recorded using a perpetual inventory system. The $1,200 in Prepaid Rent on the December 31st Post-Closing Trial balance is a prepayment of January's rent. The equipment was purchased on July 1 of last year. It has a residual value of $1,000 and an expected life of five years. It is being depreciated using the straight-line method. Employee wages are $5,000 per month. Ignore payroll taxes and deductions. Deferred Revenue is for 20 units of inventory that were ordered and paid for in advance by two customers in late December. One order of 15 units is to be filled in January, and the other will be filled in February. Notes Payable arises from a three-year, 6 percent bank loan received on October 1 last year. The par value on the common stock is $2 per share. Adjusted ABC Corporation Trial Balance January 31, 2020 Credit $ Debit 102,140 29,395 735 3,425 10,000 Account Title -Cash - Accounts Receivable Allowance for Doubtful Accounts Inventory Vehicles Accumulated DepreciationVehicles - Accounts Payable Deferred Revenue Bonds Payable Common Stock Additional Paid-In Capital, Common Stock *Retained Earnings Gain on Disposal of PPE Sales Revenue Cost of Goods Sold Bad Debt Expense Depreciation Expense Interest Expense Rent Expense Salaries and Wages Expense Dividends Total 420 4,875 1,000 90,000 12,000 18,000 8,300 2,400 32,000 11,950 640 620 60 1,200 2,500 3,000 167,330 $ $ 167,330 $ $ $ 32,000 11,950 20,050 Adjusted ABC Corporation Income Statement For the Month Ended January 31 Revenues Sales Revenue Cost of Goods Sold Gross Profit Expenses Salaries and Wages Expense Rent Expense Depreciation Expense Bad Debt Expense Loss on Disposal of PPE Income from Operations Interest Expense Net Income 2,500 1,200 620 640 15,090 60 $ 15,030