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Ricky's Piano Rebuilding Company has been operating for oneyear. On January 1, at the start of its second year, its incomestatement accounts had zero balances and its balance sheet accountbalances were as follows: Cash $ 6,900 Accounts Payable $ 8,500Accounts Receivable 25,250 Deferred Revenue (deposits) 5,200Supplies 1,350 Notes Payable (long-term) 43,500 Equipment 15,300Common Stock 15,000 Land 6,900 Retained Earnings 6,200 Building22,700 Following are the January transactions: a.Received a $865deposit from a customer who wanted her piano rebuilt in February.b.Rented a part of the building to a bicycle repair shop; $345 rentreceived for January. c.Delivered five rebuilt pianos to customerswho paid $11,925 in cash. d.Delivered two rebuilt pianos tocustomers for $6,800 charged on account. e.Received $4,800 fromcustomers as payment on their accounts. f.Received an electric andgas utility bill for $440 for January services to be paid inFebruary. g.Ordered $995 in supplies. h.Paid $1,600 on account inJanuary. i.Paid $10,300 in wages to employees in January for workdone this month. j.Received and paid cash for the supplies in(g).How to come up with a income statement for the month ended andat January 31.How to come up with a statement of retained earnings for themonth ended and at January 31.How to come up with a classified balance sheet for the monthended and at January 31.