On January 1, 2024, the general ledger of Grand Finale Fireworks includes the following account balances: Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Common Stock, $1 par value Additional Paid-in Capital Retained Earnings Totals Debit $42,800 44,700 7,600 65,000 $160,100 January 15 Pay cash on accounts payable, $16,600. January 21 Provide services to customers for cash, $49,200. During January 2024, the following transactions occur. January 2 Issue an additional 2,000 shares of $1 par value common stock for $40,000. January 9 Provide services to customers on account, $14,000. Requirement January 10 Purchase additional supplies on account, $5,000. January 12 Purchase 1,100 shares of treasury stock for $19 per share. Credit General Journal $9,100 14,700 11,000 January 22 Receive cash on accounts receivable, $16,700. January 29 Declare a cash dividend of $0.40 per share to all shares outstanding on January 29. The dividend is payable on February 15. (Hint: Grand Finale Fireworks had 11,000 shares outstanding on January 1, 2024, and dividends are not paid on treasury stock.) General Ledger 81,000 44,300 $160,100 January 30 Resell 800 shares of treasury stock for $21 per share. January 31 Pay cash for salaries during January, $42,100. The following information is available on January 31, 2024. a. Unpaid utilities for the month of January are $6,300. b. Supplies at the end of January total $5,200. 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 $10,100. d. Accrued income taxes at the end of January are $2,100. Trial Balance Income Statement Balance Sheet Analysis 1. 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.

On January 1, 2024, the general ledger of Grand Finale Fireworks includes the foliowing account balances: During January 2024, the following transactions occur: January 9 . Provide services to custoers on account, $14,000. January 10 Murchase additional supplies on account, $5,600. January 12 Purchase 1,100 shares of treasury stock for $19 per share. January is pay cash on accounts payable, $16,600. January 22 Recelve cash on accounts recrivable, $16,700. January 29 beclare a cash dividend of 10.40 per shure to all shures outstandine on Janoary 20. The dividend is payable on February 15. (orint: Grand Finale Firrorks had 11, 06e shares outstanding on January 1, 2024, and dividends are not paid on treasury stock.) January 3 se fiesell noo shares of treasury stock for $21 per share. January 31 pay cash for salaries during Jamory, $42,100. The following information is evaliable on January 31,2024. *. Unpaid uniliries for the month of January are $6,300 b. Supplies at the end of January total $5,200 c. Depreciation on the equiprnent for the month of January is calculated using the straight-line method. At the time the equipment was purchesed, the company estimated a service life of three years and a residual value of $10,100 d. Accrued income taxes at the end of January are $2,100 1. Record each of the transactions listed above in the "General Journal' tab (these are shown as items 1 to 10 ). Revlew the 'General Ledger' and the 'Triel Balance' tabs to see the effect of the transactions on the account balances. 2. Record adfusting entries on Januery 31 . In the "Generel Joumar 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 requitrements above, complete the 'Analyelg' tab. Prepare a multiple-step income statement for the period ended January 31,2024. Choose the appropriate accounts to complete the company's income statement. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Prepare a classified balance sheat as of January 31, 2024, Choose the appropriate accounts to complete the company's balance sheet. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Using the information from the requirements above, complete the 'Analysis' tab. (Enter your return on equity value to one do and earnings per share value to 2 decimal places.) Analyze the following for Grand Finale Fireworks: (a) Calculate the retum on equily for the month of January, If the average return on equity for the industry for January is 2.40%, is the company more of less proftable than other companies in the same industry? The retim on equily is: Is the cortipany more or less proftable than other companies? (b) How many shares of common stock are outstanding as of January 31, 2024? The rumber of common shares outstanding as of taruary 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 tolal by 2.) If eamings per share was $2.40 last year (i.e., an average of 50.20 per month), is earnings per share for January 2024 better or worse than last year's average