Need help with the journal entries, income statement, balance sheet, and attached analysis. Thanks!

On January 1, 2018, the general ledger of ACME Fireworks includes the following account balances Debit Credit Accounts Cash Accounts Receivable Inventory Land Equipment Allowance for Uncollectible Accounts Accumulated Depreciation Accounts Payable Notes Payable (6%, due April 1, 2019) Warranty Liability Common Stock Retained Earnings $ 35,188 48,888 21,308 79,808 21,588 5,588 2,888 29,888 63,808 38,808 48,808 26,688 $285,78e285, 798 Totals During January 2018, the following transactions occur: anuary 2 Sold gift cards totaling $18,680. The cards are redeemable for fireworks set-up services within one year of the purchase date anary 6 Purchase additional inventory on account, $168,888 anuary 15 Firework sales for the first half of the month total $148,8e8. All of these sales are on account. The cost of the units sold is $88,38e January 28 ACME paid a warranty claim of $25,886 January 23 Receive $126,780 from customers on accounts receivable January 25 Pay $183,08e to inventory suppliers on accounts payable January 28 Write off accounts receivable as uncollectible, $6, 18e January 3e Firework sales for the second half of the month total $156,8. Sales include $15,8ee for cash and $141,88e on account The cost of the units sold is $86,888 anuary 31 Pay cash for monthly salaries, $53,38 The following information is available on January 31, 2018. 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 $4,700 and a two-year service life b, ACME provides a quality assurance warranty on all sales, and estimates the liability associated with the warranty to be 1% of sales revenue. ACME accrues warranty expense on the last day of each month. The warranty liability covers the life of the product and so is classified as non-current. c. During January an appeals court ruled against ACME in a lawsuit involving a customer injury. The customer sued ACME for damages following a firework mishap. ACME now believes it is probable that it will incur a $16,300 loss associated with the claim, but it intends to pursue further appeal and the case could drag on for another couple of years. believes the probability of incurring a loss on the claim to be remote. not be collected. Of the remaining accounts receivable, the company estimates that 5% will not be collected. d. During January a customer sued ACME for damages after inadvertently igniting a Vesuvius Spark Fountain in his backpack. ACME e. At the end of January, $24,000 of accounts receivable are past due, and the company estimates that 30% of these accounts will f. ACME accrued interest expense on notes payable for January g. ACME accrued income taxes at the end of January are $7,300. h. By the end of January. $4,300 of the gift cards sold on January 2 have been redeemed for fireworks set-up services. GeneralTrial BalaStatement Ledger Income Balance Sheet Analysis Ledger Thial Balncme Journal 1. Record each of the transactions listed above in the 'General Journal tab (these are shown as items 1-11) assuming a FIFO perpetual inventory system. The transactions on January 15 and January 30 require two entries: one to record sales revenue and one to record cost of goods sold. Review the 'General Ledger and the Trial Balance' tabs to see the effect of the transactions on the account balances. 2. Record adjusting entries on January 31, 2018, in the 'General Journal tab (these are shown as items 12-19). 3. Review the adjusted 'Trial Balance' as of January 31, 2018, in the 'Trial Balance tab. 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 20 and 21). 7. Using the information from the requirements above, complete the 'Analysis' tab. General General Ledger RequirementJournal Balance Sheet Analysis Trial Balance Statement Using the information from the requirements above, complete the 'Analysis'. (Calculate the ratios to the nearest 1 decimal place.) the f ACME Fir (a) Calculate the current ratio at the end of January. If the average current ratio for the industry is 1.8, is ACME Fireworks more or ess liquid than the industry average? current ratio is: Is the company more or less liquid than the industry average? (b) Calculate the acid-test ratio atthe end of Januarylf the average acid-test ratio for the industry is 1.5, is ACME Fireworks more or less likely to have difficulty paying its currently maturing debts (compared to the industry average)? acid-test ratio is Is the company more or less likely to have difficulty paying its currently maturing debts? (c) Assume the notes payable were due on April 1, 2018, rather than April 1, 2019. Calculate the revised current ratio at the end of January, and indicate whether the revised ratio would increase, decrease, or remain unchanged compared to your answer in (a) revised current ratio is e whether the revised ratio would increase, decrease, or remain unchanged compared to your answer