Crystal Detailing Company provides mobile auto detailing to its customers. The Income Statement for the month ended January 31, 2019, the Balance Sheet for December 31, 2018, and details of postings to the Cash account in the general ledger for the month of January 2019 follow:

The following additional information is also available:

1. $1,500 of the cash collected from customers in January 2019 was for gift certificates for detailing services to be performed in the future. As of January 31, 2019, $1,400 of gift certificates were still outstanding.

2. $3,100 of supplies were purchased on account.

3. Employees are paid monthly during the first week after the end of the pay period.

Requirement

Based on these statements, prepare the Balance Sheet for January 31, 2019.

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A1 Crystal Detailing Company Income Statement Month ended January 31, 2019 2 Revenue: $35,000 1.200 Detailing revenue 3 Gift certificates redeemed 4 $36,200 5 Expenses: Salary expense Depreciation expense-equipment Supplies expense $7,000 7,000 3,700 2,400 Advertising expense 20,100 $ 16,100 9. 10 Net income 11 (Assume all revenue is on account.) A1 Crystal Detailing Company Balance Sheet December 31, 2018 Liabilities $ 800 Accounts payable 1,800 Salary payable 1,300 Unearned service revenue Total liabilities Stockholders' Equity Assets 3 Cash 4 Accounts receivable 5 Supplies 6 Equipment Less: Accumulated $ 4,000 1,400 1,100 6,500 $35,000 7. depreciation (7,000) 10 11 12 Total assets 13 28,000 Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 14,000 11,400 25,400 $31,900 $31,900