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On January 1 , 2 0 2 4 , the general ledger of ACME Fireworks includes the following account balances: Accounts Debit Credit Cash $

On January 1,2024, the general ledger of ACME Fireworks includes the following account balances:
Accounts Debit Credit
Cash $25,700
Accounts Receivable 47,400
Allowance for Uncollectible Accounts $4,800
Inventory 20,600
Land 52,000
Equipment 18,000
Accumulated Depreciation 2,100
Accounts Payable 29,100
Notes Payable (6%, due April 1,2025)56,000
Common Stock 41,000
Retained Earnings 30,700
Totals $163,700 $163,700
During January 2024, the following transactions occur:
January 2 Sold gift cards totaling $9,200. The cards are redeemable for merchandise within one year of the purchase date.
January 6 Purchase additional inventory on account, $153,000. ACME uses the perpetual inventory system.
January 15 Firework sales for the first half of the month total $141,000. All of these sales are on account. The cost of the units sold is $76,800.
January 23 Receive $126,000 from customers on accounts receivable.
January 25 Pay $96,000 to inventory suppliers on accounts payable.
January 28 Write off accounts receivable as uncollectible, $5,400.
January 30 Firework sales for the second half of the month total $149,000. Sales include $13,000 for cash and $136,000 on account. The cost of the units sold is $82,500.
January 31 Pay cash for monthly salaries, $52,600.
4. Prepare a multiple-step income statement for the period ended January 31,2024.

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