Only Part B.

Lori Dodge operates the Dodge Dance Studio, Inc. The business rents studio space and offers dance classes to various groups. On January 1, 2018 the company had the following: Cash $5,000; Accounts Receivable $5,200; Notes Payable $2.500; Accounts Payable $1,000; Common Stock $5,000 and Retained Earnings $1,700. The January business activities were as follows: 1) Paid $600 on Accounts Payable. 2) Paid January rent $3,600. 3) Billed clients for January classes $11,500. 4) Received $500 invoice from a supplier for T-shirts given to members of January classes. 5) Collected $10,000 on account from clients. 6) Paid employees' wages of $2,400. 7) Received $680 invoice for January utilities. 8) Paid $20 interest to bank on Notes Payable. 9) Dodge withdrew $900 cash. 10) Paid $4,000 to purchase a sound system that will replace the one that Lon presently rents. Required: A) Process the ten transactions for January B) Prepare an Income Statement, Statement of Retained Earnings and Balance Sheet for the month of January. SE Onun