create and fix the income statement , balance sheet, ratio analysis, closing entry, and adjsuting entries sheet, with the below images.

he December 31,2024 , adjusted trial balance for the Incredible Edible Corporation is presented below Required: 4. Using the completed 2024 balance sheet and income statement for Incredible Edible Corporation, calculate the specific ratios listed below. 1. Calculate the current ratio. Note: Show your work. Round your answer to 2 decimal places. 2. Calculate the acid-test (quick) ratio. Note: Show your work. Round your answer to 2 decimal places. 3. Calculate the debt-to-equity ratio. Note: Show your work. Round your answer to 2 decimal places. 4. Calculate the gross margin ratio. Note: Show your work. Round your answer to 1 decimal place. 5. Calculate the profit margin on sales ratio. Note: Show your work. Round your answer to 1 decimal place. Required: 2. Prepare a classified balance sheet as of December 31, 2024. Required: Prepare the necessary adjusting entries for Incredible Edible Corporation at the end of December 31,2024 , fiscal year-end for each of the above situations. No adjusting entries were recorded during the jear. Required: 1. Prepare an income statement for the year ended December 31, 2024. Prepare the required closing entries on December 31, 2024. Note: All balances are closed to Retained Earnings. 1. A three-year fire insurance policy was purchased on July 1,2024 , for $12,000. The company debited prepaid insurance for the entire amount at the time of payment. 2. Depreciation on equipment totaled $15,000 for the year. 3. On September 30, 2024, the company paid its landlord $12,000 representing rent for the period September 30 , 2024, to September 30, 2025. Incredible Edible Corporation debited prepaid rent the time the rent was paid. 4. Supplies on hand at the end of 2023 (previous year) totaled $3,000. Additional supplies costing $5,000 were purchased during 2024 and debited to the supplies account. At the end of 2024, supplies costing $4,200 remain on hand. Prepare the necessary adjusting entries for Incredible Edible Corporation at the end of December 31, 2024, fiscal year-end for each of the above situations. No adjusting entries were recorded during the year. 2: Prepare Financial Statements The December 31, 2024, adjusted trial balance for the Incredible Edible Corporation is presented in the tab Adjusted Trial Balance in your workbook. 1. Prepare an income statement for the year ended December 31, 2024. 2. Prepare a classified balance sheet as of December 31, 2024. 3: Closing Entries Prepare the required closing entries on December 31, 2024. Note: All balances are closed to Retained Earnings. 4: Ratio Analysis Using the completed 2024 balance sheet and income statement for Incredible Edible Corporation, calculate the specific ratios listed below. 1. Calculate the current ratio. 2. Calculate the acid-test (quick) ratio. 3. Calculate the debt-to-equity ratio. 4. Calculate the gross margin ratio. 5. Calculate the profit margin on sales ratio. Note: Show your work. Round your answers to 1 decimal place