13 Required information Exercise 8-18 Complete the accounting cycle (L08-1, 8-2, 8-4, 8-6) On January 1, 2021, the general ledger of ACME Fireworks includes the following account balances: 4 of 7 Credit Accounts Cash Accounts Receivable Allowance for Uncollectible Account Inventory Debit $ 25,100 46,200 02:52:01 $4,200 Land 20,000 46,000 15,000 Book Equipment Accumulated Depreciation Accounts Payable Notes Payable (61, due April 1, 2022) Common Stock Retained Earnings Total 1,500 28,500 50,000 35,000 23.100 $152,300 Print $152,300 erences During January 2021, the following transactions occur JANUAY ? Bold gift cards totaling $8,000. The cards are redeemable for marchandise within one year of the purchase date January 6 Purchase additional Inventory on account, $147,000. January 15 virevork sales for the first half of the month total $135,000. All of those sales are on sccount. The cost of the units sold is $73,800 January 23 Receive 5125,400 From customers on accounts receivable January 25 Pay 590,000 to inventory suppliers on accounts payable. January 20 write oft accounts receivable as uncollectible, 54,800. January 3o Firework sale for the second half of the month total $143,000. sales include $11,000 for cash and $152,000 on account. The cost of the units sold 1 079,500. January 31 Pay cash for monthly salaries, $52,000. Exercise 8-18 Part 4 4. Prepare a multiple-step income statement for the period ended January 31, 2021 ACME FIREWORKS