General Journal General Ledger Income Statement Requirement Trial Balance Balance Sheet Analysis 1. Record each of the transactions listed above in the 'General Journal' tab (these are shown as items 1 - 10) assuming a FIFO perpetual inventory system. Review the 'General Ledqer and the Trial Balance' tabs to see the effect of the transactions on the account balances. 2. Record adjusting entries on January 31. in the 'General Journal' tab (these are shown as items 11-14) 4. Prepare a multiple-step income statement for the period ended January 31, 2018, in the 'Income statement' tab. 5. Prepare a classified balance sheet as of January 31, 2018, in the 'Balance Sheet' tab. 6. Record the closing entries in the 'General Journal tab (these are shown as items 15-17). 7. Using the information from the requirements above, complete the 'Analysis' tab. General Journal Requirement On January 1, 2018, the general ledger of Grand Finale Fireworks includes the following account balances: Accounts Cash Accounts Receivable Debit $ 42.700 44.500 Credit Supplies 500 Accumulated Depreciation Accounts Payable Common Stock, $1 par value S 9.000 14.600 10,000 pital Retained Eamings 45,100 Totals $158,700 $158,700 During January 2018, additional 2 000chare of Provide services to customers on account, $14,300 Purchase additional supplies on account, $4,900. Repurchase 1,000 shares of treasury stor ar value common stock for $40,000 January 9 January 10 January 12 for $18 per share January 21 Provide services to customers for cash, $49,100. January 22 Receive cash on accounts receivable, $16,600. January 29 Declare a cash dividend of $0.30 per share all shares outstanding on January 29. The (Hint: Grand Finale Fireworks had 10,000 shares outstanding on January 1, 2018 and dividends are not paid on treasury stock.) January 30 Reissue 600 shares of treasury stock for S20 per share. salaries during January, January Pay ca The following information is available on January 31, 2018. $6,200 Supplies at the end of January total $5.100 c. 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 service life of three years and a residual value of $10.000. d. Accrued income taxes at the end of January are $2,000