Exercise 8-19 (Static) Part 5 5. Prepare a classified balance sheet as of January 31, 2024. (Enter the asset accounts in order of liquidity. Amounts to be deductec should be indicated with a minus sign.) 4. Prepare a multiple-step income statement for the period ended January 31, 2024. During January 2024, the following transactions occur: January 2 Sold gift cards totaling $8,000. The cards are redeemable for merchandise within one year of the purchase date. January 6 Purchase additional inventory on account, $147,000. ACME uses the perpetual inventory system. January 15 Firework sales for the first half of the month total $135,000. All of these sales are on account. The cost of the units sold is $73,800. January 23 Receive $125,400 from customers on accounts receivable. January 25 Pay $90,000 to inventory suppliers on accounts payable. January 28 Write off accounts receivable as uncollectible, $4,800. January 30 Firework sales for the second half of the month total $143,000. Sales include $11,000 for cash and $132,000 on account. The cost of the units sold is $79,500. January 31 Pay cash for monthly salaries, $52,000. a. Depreciation on the equipment for the month of January is calculated using the straight-line method. At the time the equipment was purchased, the company estimated a residual value of $3,000 and a two-year service life. b. The company records an adjusting entry for $12,500 for estimated future uncollectible accounts. c. The company has accrued interest on notes payable for January. d. The company has accrued income taxes at the end of January of $13,000. e. By the end of January, $3,000 of the gift cards sold on January 2 have been redeemed (ignore cost of goods sold)