On January 1, 2021, the general ledger of Dynamite Fireworks includes the following account balances: Credit Accounts Cash Accounts Receivable Supplies Land Accounts Payable Common Stock Retained Earnings Totals Debit $25,000 6,400 4,300 62,000 $ 4,400 77,000 16,300 $97, 700 $97,700 During January 2021, the following transactions occur January 2 Purchase rental space for one year in advance, $9,600 ($800/month). January 9 Purchase additional supplies on account, $4,700 January 13 Provide services to customers on account, $26,700. January 17 Receive cash in advance from customers for services to be provided in the future, $4,900. January 20 Pay cash for salaries, $12,700. January 22 Receive cash on accounts receivable, $25,300. January 29 Pay cash on accounts payable, $5,200. The following information is available on January 31 . Rent for the month of January has expired. Supplies remaining at the end of January total $4,000. By the end of January, $4100 of services has been provided to customers who paid in advance on January 17 Unpaid salaries at the end of January are $4,960. Jan 02 9,600 Prepaid Rent Cash 9,600 Jan 09 4,700 Supplies Accounts Payable 4,700 Jan 13 Accounts Receivable 26,700 Service Revenue 26,700 Jan 17 Cash 4,900 Deferred Revenue 4,900 Jan 20 12,700 Salaries Expense Cash 12,700 Jan 22 Cash 25,300 Accounts Receivable 25,300 Unadjusted Dynamite Fireworks Income Statement For the year ended January 31, 2021 Revenues Service Revenue $ 26,700 Total Revenue 26,700 Expenses Rent Expense Salaries Expense 0 12,700 Total Expenses 12,700 $ $ 14,000 Assets Current Assets: Cash $ $ 9.100 0 Accounts Receivable Supplies Prepaid Rent 4.900 Dynamite Fireworks Balance Sheet January 31, 2021 Liabilities Current Liabilities 32,900 Accounts Payable 7,800 Salaries Payable 9,000 Deferred Revenue 9,600 Total Current Liabilities Common Stock Retained Earnings 59,300 Total Liabilities Stockholders' Equity 62,000 Common Stock Retained Earnings i 14,000 77,000 16 300 107,300 Total Current Assets Long-term Assets Land 77,000 30,300 0 Total Stockholders' Equity Total Liabilities & Stockholders' Equity 107300 214,600 Total Assets $ 121,300 $ January 31, 2021 Assets Liabilities Current Assets 2 Cash 32.900 9,100 Current Liabilities Accounts Payable Salaries Payable Deferred Revenue 0 Accounts Receivable Supplies Prepaid Rent 7,800 9,000 4.900 9,600 14.000 77 000 16,300 107,300 Total Current Assets Total Current Liabilities Common Stock Retained Earnings Total Liabilities Stockholders' Equity Common Stock Retained Earnings 59,300 Long-term Assets Land 62,000 77.000 30,300 0 Total Stockholders Equity Total Liabilities & Stockholders' Equity 107 300 $ 214.600 Total Assets $ 121 300 Requirement Wal Balance diy 515 Journal Ledger Statement Using the information from the requirements above, complete the 'Analysis' tab. Analyze the following features of Dynamite Fireworks financial condition: (a) What is the amount of profit reported for the month of January? The amount of profit reported for the month of January is (b) Calculate the ratio of current assets to current liabilities at the end of January The ratio of current assets to current liabilities at the end of January is (c) Based on Dynamite Fireworks' profit and ratio of current assets to current liabilities, indicate whether Dynamite Fireworks appears to be in good or bad financial condition. Does the company appears to be in good or bad financial condition