3 1:58 Required information [The following information applies to the questions displayed below.] The general ledger of Zips Storage at January 1, 2024, includes the following account balances: Accounts Cash Accounts Receivable Prepaid Insurance Land Accounts Payable Deferred Revenue Common Stock Retained Earnings Totals 1. January 9 2. February 12 3. April 25 4. May 6 Debits $25,900 16,700 14,600 161,000 5. July 15 6. September 10 October 31 7. 8. November 20 9. December 30 $218,200 Credits The following is a summary of the transactions for the year: $8,000 7,100 Pay property taxes, $9,800. Pay on accounts payable, $12,700. Pay salaries, $136,600. 156,000 47,100 $218, 200 Provide storage services for cash, $147,100, and on account, $58,700. Collect on accounts receivable, $52,800. Receive cash in advance from customers, $14,200. Purchase supplies on account, $11,800. Issue shares of common stock in exchange for $40,000 cash. Pay $4,100 cash dividends to stockholders.

Required information [The following information applies to the questions displayed below.] The general ledger of Zips Storage at January 1, 2024, includes the following account balances: The following is a summary of the transactions for the year: 1. January 9 2. February 12 3. April 25 4. May 6 5. July 15 6. September 10 7. October 31 8. Novenber 20 9. December 30 Provide storage services for cash, $147,100, and on account, $58,700. collect on accounts receivable, $52,800. Receive cash in advance from custoners, $14,200. purchase supplies on account, $11,800. Pay property taxes, $9,890. Pay on accounts payable, $12,700. Pay salaries, $136,600. Issue shares of common stock in exchange for $40,000cash. Pay $4,100 cash dividends to stockholders. 8-a. Prepare the income statement for the year ended December 31, 2024. 8-b. Prepare the classified balance sheet for the year ended December 31, 2024