During the month of January, $2024,$ HI Palms had the following transactions occur:$1.$ HI Palms issued $1,000$ additional shares of stock for a total of $$11\mathrm{.}50$ per share. The shares have a $$1\mathrm{.}00$ per share par value$2.$ During the month, the company had $$26,000$ in revenue from products it provided to customers. All sales were on account. The amount HI Palms paid its suppliers for these products was $$8,500.$ In addition, HI Palms had revenue from services it provided to customers in the amount of $$1,500,$ on account. Customers had paid a total of $$3,500$ for these transactions by the end of January. In addition, customers paid $$23,000$ of the balance owed as of January $1$st $($from previous months transactions$)$ during the month of January. The company uses the perpetual inventory method$\mathrm{.}3.$ The company pays its employees on the $1$st and $15$th days of the month. Since January $1$st is a holiday, the company paid its employees on December $31$st for amounts earned during the last half of December. HI Palms paid $$8,000$ to its employees on January $15$th for work performed during the month of January. Of this amount, $$1,500$ had been earned during the last few days of December $($See the trial balance$).$ As of the end of the month, the company owes its employees an additional $$8,500$ for work performed during the month of January$\mathrm{.}4.$ The company purchased $$500$ worth of supplies during the month of January on account. As of the end of the month they had $$450$ of supplies remaining. They also paid $$5,000$ on the Accounts Payable balance that was owed as of January $1$st$\mathrm{.}5.$ The prepaid insurance balance listed in the trial balance is for a $6-$month policy that was purchased on December $1,2023$ for $$1,200\mathrm{.}6.$ HI Palms incurred $$400$ in utility costs $($electricity$,$ natural gas, internet and telephone$)$ for the month of January. So far, the company has paid $$250$ of that amount with the remaining amount due in February$\mathrm{.}7.$ The company paid $$3,000$ in rent on January $1$st for an office space it rents. The payment covers rent for January $-$ March$\mathrm{.}8.$ The company depreciates its existing PP&E using the straight$-$line method of depreciation. The equipment is estimated to have a $$3,000$ salvage value and a $10-$year useful life. The Buildings have a $$18,000$ salvage value with a $30-$year useful life. The company records depreciation each month in preparation for preparing its financial statements$\mathrm{.}9.$ On January $3$rd$,$ the company purchased inventory costing $$5,000$ on account. They also paid $$100$ in shipping costs in cash to get the inventory shipped to them. The company uses the perpetual inventory method$\mathrm{.}10.$ On January $12$th$,$ they returned $$800$ worth of the goods purchased in the previous transaction. No additional shipping costs were incurred$\mathrm{.}11.$ A customer returned goods that were sold to them for $$1,400.$ The goods cost HI Palms $$600$ to purchase from their supplier. The customer had not yet paid for these goods$\mathrm{.}12.$ The terms of the Long Term Note Payable are as follows:$6\%$ annual interest rate, interest payments payable monthly on the first day of the month for the previous month, full amount of principal due on November $30,2023\mathrm{.}13.$ One of HI Palms' customers owes the company $$800.$That customer contacted HI Palms to notify the company via a bankruptcy court that they are going bankrupt and will not be able to pay the $$800.$ The company uses the allowance method for recording these uncollectible accounts receivables$\mathrm{.}14.$ The Unearned Revenue account reflects money HI Palms received in December from a customer who paid in advance for services. HI performed $80\%$ of the required services during January for this customer$\mathrm{.}15.$ The company declared and paid dividends to shareholders in the amount of $$3,00016.$ On January $1$st$,$ the company purchased an additional piece of equipment for $$12,000$ using a $9-$month note payable. The note payable carries a $5\%$ annual interest rate, with all interest and principle due at the end of $9$ months.The equipment is expected to have a $3-$year useful life and salvage value of $$2,000.$ The company will use the double declining balance method for depreciating this new piece of equipment. Depreciation should be calculated monthly $($hint: convert the useful life to months before computing this$)*$ Prepare the T$-$accounts for each relevant financial statement account $($hint: remember to include beginning balances$)*$ Prepare an adjusted trial balance as of January $31,2024.*$ Prepare the Income Statement, Balance Sheet and Statement of Retained Earnings for the month of January, ending January $31,2024.*$ Prepare closing entries.$*$ Prepare a post$-$closing trial balance as of January $31,2024.$