Constructing Financial Statements from Transaction Data Baiman Corporation commences operations at the beginning of January. It provides its services on credit and bills its customers $50,000 for January sales. Its employees also earn January wages of $19,000 that are not paid until the first of February. Complete the following statements for the month-end of January.

Do not use negative signs with answers, unless to indicate a net loss.

Baiman Corporation
Income Statement
For the month ended January 31
Sales$Answer
Wages expenseAnswer
Net income (loss)$Answer
Baiman Corporation
Balance Sheet
January 31
Cash$Answer
Accounts receivableAnswer
Total assets$Answer
Wages payable$Answer
Retained earningsAnswer
Total liabilities and equity$Answer