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On January 1, 2025, Norma Smith and Grant Wood formed a computer sales and service company in Soapsville, Arkansas, by investing $90,176 cash. The new company, Nash Sales and Service, has the following transactions during January. 1. Pays $6,000 in advance for 3 months' rent of office, showroom, and repair space. 2. Purchases 42 personal computers at a cost of $1,604 each, 8 graphics computers at a cost of $2,604 each, and 27 printers at a cost of 5404 each, paying cash upon delivery. 3. Sales, repair, and office employees earn $12,776 in salaries and wages during January of which $3,176 was still payable at the end of January 4. Sells 32 personal computers at $2,654 each 6 graphics computers for $3,704 each, and 17 printers for $604 each; $75,176 is received in cash in January, and $42,244 is sold on a deferred payment basis. 5. Other operating expenses of $8,576 are incurred and paid for during January, $2,176 of incurred expenses are payable at January 31. Using the transaction data above, prepare (1) a cash-basis income statement and (2) an accrual-basis income statement for the month of January. (Enter loss using either a negative sign preceding the number, eg. -45 or parentheses eg. (45).) Using the transaction data above, prepare (1) a cash-basis balance sheet and (2) an accrual-basis balance sheet as of January 31 , 2025. (Ust assets in onder of llquidity)

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