On January $1,2024,$ the general ledger of Grand Finale Fireworks includes the following account balances:

Accounts Debit Credit

Cash $$42,800($C$)$

Accounts Receivable $44,700($C$)$

Supplies $7,600($C$)$

Equipment $65,000($C$)$

Accumulated Depreciation $$9,100($D$)$

Accounts Payable $14,700($D$)$

Common Stock, $$1$ par value $11,000($D$)$

Additional Paid$-$in Capital $81,000($D$)$

Retained Earnings $44,300($D$)$

Totals $$160,100$ $$160,1001.$

Record each of the transactions listed above in the 'General Journal' tab $($these are shown as items $1$ to $10).$ 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 $31.$ in the 'General Journal' tab $($these are shown as items $11$ to $14).$

$3.$

Review the adjusted 'Trial Balance' as of January $31,2024,$ in the 'Trial Balance' tab.

$4.$

Prepare a multiple$-$step income statement for the period ended January $31,2024,$ in the 'Income Statement' tab.

$5.$

Prepare a classified balance sheet as of January $31,2024,$ in the 'Balance Sheet' tab.

$6.$

Record the closing entries in the 'General Journal' tab $($these are shown as items $15$ to $17).$

$7.$

Using the information from the requirements above, complete the 'Analysis' tab.Using the information from the requirements above, complete the 'Analysis' tab. $($Enter your return on equity value to one decimal place

and earnings per share value to $2$ decimal places.$)$

Analyze the following for Grand Finale Fireworks:

$($a$)$ Calculate the return on equity for the month of January. If the average return on equity for the industry for January is $2\mathrm{.}40\%,$ is the company

more or less profitable than other companies in the same industry?

$($b$)$ How many shares of common stock are outstanding as of January $31,2024?$

The number of common shares outstanding as of January $31,2024$ is

$($c$)$ Calculate earnings per share for the month of January. $($Hint: To calculate average shares of common stock outstanding take the beginning

shares outstanding plus the ending shares outstanding and divide the total by $2.)$ If earnings per share was $$2\mathrm{.}40$ last year $($i$.$e$.,$ an average of

$$0\mathrm{.}20$ per month$),$ is earnings per share for January $2024$ better or worse than last year's average?

Earnings per share is:

Is earnings per share for January $2024$ better or worse than last year's average?