Painter Corporation was organized by give individuals on January 1, 2013. At the end of January 2013, the following monthly financial data are available:

No dividend was declared or paid during 2013.

Required:
Compute the following twostatements:

Transcribed Image Text:

PAINTER CORPORATION Income Statement For the Month of January 2013 Total revenues Less: Total expenses (excluding income tax) Pretax inco Less: Income tax expense Net income me PAINTER CORPORATION Balance Sheet At January 31,2013 Assets Cash Receivables from customers Merchandise inventory Total assets Liabilities Payables to suppliers Income taxes payable Total liabilities Stockholders' Equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity