On January 1, 2024, the general ledger of TNT Fireworks included the following account balances: During January 2024, the following transactions occurred: January 1 Purchased equipment for $20,400. The company estimates a residual value of $2,400 and a four-year service life. January 4 Paid cash on accounts payable, $10,400. January 8 Purchased additional inventory on account, $91,900. January 15 Received cash on accounts receivable, $22,900 January 19 Paid cash for salaries, $30,700. January 28 Paid cash for January utilities, $17,400. January 30 Firework sales for January totaled $229,000. All of these sales were on account. The cost of the units sold was $119,500. The following information is available on January 31, 2024. a. Depreciation on the equipment for the month of January is calculated using the straight-line method. b. The company records an adjusting entry for $5,720 for estimated future uncollectible accounts. c. The company has accrued interest on notes receivable for January. Interest will be received each December 31. d. Unpaid salaries owed to employees at the end of January are $33,500. e. The company accrued income taxes at the end of January of $9,900. Complete this question by entering your answers in the tabs below. 1. Record each of the transactions listed above in the 'General Journal' tab (these are shown as items 1-8) assuming a perpetual FIFO inventory system. The transaction on January 30 requires 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 in the 'General Journal' tab (these are shown as items 9-13). 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 closing entries in the 'General Journal' tab (these are shown as items 14-15). 7. Using the information from the requirements above, complete the 'Analysis' tab. Complete this question by entering your answers in the tabs below. Using the information from the requirements above, complete the 'Analysis'. Note: Round final answers to 1 decimal place