E3-21 On January 1, 2024, the general ledger of Dynamite Fireworks includes the following account balances: Accounts Credit Debit Cash Accounts Receivable $23,800 5,200 Supplies 3,100 Land 50,000 Accounts Payable $3,200 Common stock 65,000 Retained Earnings 13,900 Totals $82,100 $82,100 During January 2024, the following transactions occur: Required: 2-Jan Purchase rental space for one year in advance, $6,000 ($500/month) 9-Jan Purchased additional supplies on account, $3,500. 13-Jan Provide services to customers on account, $25,500 17-Jan Receive cash in advance for customers for services to be provided in the future, $3,700. 20-Jan Pay cash for salaries, $11,500 22-Jan Receive cash on accounts receivable, $24,100. 29-Jan Pay cash on accounts payable, $4000. 1. Record each of the transactions listed above. 2. Record adjusting entries on January 31. 3. a. Rent for the month of January has expired. b. Supplies remaining at the end of January totaled $2,800. All other supplies have been used. c. By the end of January, $3,200 of the services has been provided to customers who paid in advance on January 17. d. Unpaid salaries at the end of January are $5,800. Prepare an adjusted trial balance as of January 31, 2024, after updating beginning balances (above) for transactions during January (Requirement 1) and adjusting entries at the end of January (Requirement 2) [Note: a worksheet is provided and the trial balance there counts for this. The ajusted Trial Balance is required, while shaded areas are optional] 4. Prepare an income statement for the period ended January 31, 2024. 5. Prepare a classified balance sheet as of January 31, 2024. 6. Record the closing entries. 7. Prepare a post-closing trial balance (Cathy added) 8. 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 (current ratio) at the end of January. c. Based on Dynamite Fireworks' profit and ratio of current assets to current liabilities, indicate whether Dynamite Fireworks appears to be in good or bad financial condition