Exercise 8-19 (Algo) Complete the accounting cycle (LO8-1, 8-2, 8-4, 8-6) [The following information applies to the questions displayed below.] On January 1, 2024, the general ledger of ACME Fireworks includes the following account balances: During January 2024, the following transactions occur: January 2 Sold gift oards totaling $10,000. The cardis are redeesable for merchandise within one year of the purchase date. Jonuary 6 Purchase additional inventory on account, $157,000. NCuE uses the perpetual inventory syatem. The cost of the units mold is $78,600. January 23 Recelive $126,400 from customere on accounte receivable. Sanuary 25 Pay $100,000 to inventory muppliers on accounts payable. fanuary 28 Write off acoounte recoivable an uncolloctible, 55 , 800 . January 30 Pirework salen for the socond half of the month totol $153,000. sales inelude $16,000 for canh and Sanuary 31 pay cash for monthly salaries, 553,000 . 4. Prepare a multiple-step income statement for the period ended January 31, 2024. ACME FIREWORKS Classifled Balance Sheet January 31,2024