On January 1, 2024, the general ledger of Tripley Company included the following account balances: The $32,400 beginning balance of inventory consists of 324 units, each costing $100. During January 2024, the company had the following transactions: January 2 Lent $44,000 to an employee by accepting a 6% note due in six months. January 5 Purchased 4,700 units of inventory on account for $517,000 ( $110 each) with terms 1/10,n/30. January 8 Returned 100 defective units of inventory purchased on January 5. January 15 Sold 4,500 units of inventory on account for $693,000 ( $154 each) with terms 2/10, n/30. January 17 Customers returned 200 units sold on January 15 . These units were initially purchased by the company on January 5 . The units are placed in inventory to be sold in the future. January 20 Received cash from customers on accounts receivable. This amount includes $38,400 from 2023 plus amount receivable on sale of 3,900 units sold on January 15 . Wrote off remaining accounts receivable from 2023. January 24 Paid on accounts payable. The amount includes the amount owed at the beginning of the period plus the amount owed from purchase of 4,300 units on January 5 . January 28 Paid cash for salaries during January, $52,000. January 29 Paid cash for utilities during January, $34,000. January 30 Paid dividends, $5,400. Month-end adjusting entries: a. Of the remaining accounts receivable, the company estimates that 10% will not be collected. b. Accrued interest revenue on notes receivable for January. c. Accrued interest expense on notes payable for January. d. Accrued income taxes at the end of January for $7,400. e. Depreciation on the building, $4,400. 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 1-13) assuming a perpetual FIFO inventory system. Purchases and sales of inventory are recorded using the gross method for cash discounts. 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 14-18). 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 19-20). 7. Using the information from the requirements above, complete the "Analysi" tab. Complete this question by entering your answers in the tabs below. Using the information from the requirements above, complete the 'Analysis tab. Note: Enter your inventory turnover ratio and gross profit ratio in 1 decima place. Unadjusted to: Analyze how well Tripley Company manages its inventory (a) Calculate the inventory turnover ratio for the month of January. If the industry average of the inventory turnover ratio for the month of January is 4.5 times, is the company selling its inventory more or less quickly than other companies in the same industry