Complete this question by entering your answers th the tabs below. Prepare an income utatement for the period endad zanuary 31,2024. On January 1, 2024, the general Jedger of Dynamite Fireworks includes the following account balances: During January 2024 , the following transect ons occur January 2 Purchase rental space for one year in advance, 56 , eve (sseed montb). January 9 hucchase additional tupplies on account, 53,5ed. January 21 Provide services to custorers on account, 2.5 , sea. January 17 Receive cash in atvance finbe custchers for services to be provided in the foture, 57,7 . Jandary 20 pay cath for salarles, \$11, se0. 2andry22 eecelve cash on actounts recelvable, 324, 160. Janiary 20 pay cosh on accounts payable, 54,600 . Required: 1. Pecord esch of the transactions listed above 2. Record the adjusting entries on January 31. - Rent for the month of January nas expired. - Supplies remaining ot the end of January total $2800. All other supplies have deen used. - By the end of Janubry, $3,200 of services hos been provided to customers who paid in advance on 10nuary17. - Unpaid selaries at the ead of Jenuary ore 55.800 . 3. Prepere on adjusted thial baiance as of January 31, 2024. 4. Piepare on income statement for the period ended January 31,2024 5. Prepore a ciassified baiance sheet as of January 31,2024 6. Record closing entries. 7. Ariblyze the following features of Dynamite Fireworks' financial condition: 0. What is the emount of profit reported for the month of Jonusry? b. Calculate the ratio of current assets to current lisblities (the current ratig) at the end of Jonuary. c. Based on Dynsmite Fireworks' profit and ratio of current assets to curren labilies, Indicate whether Dynamite Firewoi be in good or bed financial condition. 1. Record each of the transactions listed above. 2. Record the adjusting entries on January 31 - Rent for the month of January has expired. - Supplies remaining at the end of January total $2.800. All other supplies have been used. - By the end of January. \$3,200 of services has been provided to customers who paid in advance on January 17 - Unpaid salaries at the end of January are $5,800. 3. Prepare an adjusted trial balance as of January 31,2024 . 4. Prepare an income statement for the period ended January 31, 2024. 5. Prepare a classified balance sheet as of Janvary 31, 2024. 6. Record closing entries. 7. Analyze the following features of Dynamite Fireworks' financial condition: a. What is the amount of profit reported for the month of January? b. Calculate the ratio of current assets to current liabilities (the current ratio) at the end of January. c. Based on Dynamite Fireworks' profit and ratio of current assets to current liabilities, indicate whether Dynamite F be in good or bad financial condition. Complete this question by entering your answers in the tabs below. Prepare an income statement for the period ended January 31 2024. On January 1,2024, the generai ledger of Dynamite Fireworks includes the following account balances: During January 2024, the following transactions occur. January 2 purchase rental space for one year in advance, 36 , ewe (3sco/month). January 9 Purchase additioral supplies on account, 33,5 , se. January 13 Provide services to customers on account, 325,569 . January 17 Receive cash in advance froe custoners for services to be provided in the future, $3,706. January 20 Pay cash for salaries, 511,5e0. January 22 Heceive cash on accounts Yeceivable, 324,269 . January 29 pay cash on accounts payable, 54 , eee, Requlred: 1. Record each of the transactions listed above. 2. Record the adjusting entries on January 31 . - Rent for the month of January has expired. - Supplies remeining at the end of Janubry total $2.800. All other supplies have been used. - By the end of January, $3,200 of services has been provided to customers who paid in advance on January 17 . - Unpaid salaries at the end of January are $5,800 3. Prepare an acjusted tria baiance as of Januery 31, 2024. 4. Prepare an income statement for the period ended January 31,2024 5. Prepare o classified balance sheet as of January 31, 2024 6. Record closing entries: 7. Arfalyze the following features of Dynamite Fireworks' financial condition a. What is the amount of profit reported for the month of January? b. Caiculete the ratio of current assets to current liabilities (the current ratio) at the end of january c. Based on Dynamite Fireworks' profit and ratio of current assets to current liabities. indicate whether Dynamite Firewori be in good or bad financial condition