Alexander City Consultants Started Business on January 1,2017,and Immediately Purchased $\begin{array}{l}\text { Income Statement }&\text { Statement of Cash Flows }\end{array}$

Alexander City Consultants started business on January 1,2017,and immediately purchased $1,000 of supplies on credit to use in the business.At the end of the month,25% of the supplies remain unpaid and 20% are still on hand.What amounts should appear on the financial statements for January 2017? $\begin{array}{l}\text { Income Statement }&\text { Statement of Cash Flows }\end{array}$
a.
$\begin{array}{cc}&&&\$1,000&&&&&&\$1,000\end{array}$

b.
$\begin{array}{cc}&&&\$1,000&&&&&&\$750\end{array}$

c.
$\begin{array}{cc}&&&\$800&&&&&&&\$25\end{array}$

d.
$\begin{array}{cc}&&&\$800&&&&&&&\$750\end{array}$