Ducharme Corporation was organized by five individuals on January 1, 2017. At the end of January 2017, the following monthly financial data are available:

Required:1. Prepare a summarized statement of earnings for the month of January 2017.2.?Prepare?a statement of financial position at?January?31, 2017

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Total revenues $299,000 Total expenses (excluding income taxes) 189,000 Income tax expense (all unpaid as at January 31) 34,500 Cash balance, January 31, 2017 65,150 34,500 Receivables from customers (all considered collectible) Merchandise inventory (by inventory count at cost) 96,600 Payables to suppliers for merchandise purchased from them (will be paid during February 2017) 26,450 Contributed capital (2,600 shares) 59,800 No dividends declared in January 2017