On January 1, Pulse Recording Studio (PRS) had the following account balances. Accounts Payable Accounts Receivable Accumulated Depreciation-Equipment Cash Cash Equivalents Common Stock Deferred Revenue Equipment Notes Payable (long-term) Prepaid Rent Retained Earnings Supplies $ 8,700 6,800 6,300 3,650 1,600 10,500 3,800 30,300 13,100 3,150 3,620 520 The following transactions occurred during January. a. Received $2,440 cash on 1/1 from customers on account for recording services completed in December b. Wrote checks on 1/2 totaling $4,380 for amounts owed on account at the end of December c. Purchased and received supplies on account on 1/3, at a total cost of $200. d. Completed $3,800 of recording sessions on 1/4 that customers had paid for in advance in December e. Received $4,800 cash on 1/5 from customers for recording sessions started and completed in January f. Wrote a check on 1/6 for $4,160 for an amount owed on account. g. Converted $1,040 of cash equivalents into cash on 1/7. 4. Review the adjusted 'Trial Balance' as of January 31. 5. Prepare an income statement for the period ended January 31 in the 'Income Statement' Tab 6. Prepare a bank reconciliation in the 'Bank Reconciliation' Tab. 7. Prepare a classified balance sheet as of January 31 in the 'Balance Sheet Tab. 8. Using the information from the requirements above, complete the Analysis' tab. Requirement General Journal General Ledger Trial Balance Income Statement Bank Reconcilation Balance Sheet Using the information from the requirements above, complete the 'Analysis' tab. Calculate the current ratio at January 31. (Round your answer to 2 decimal places.) Current Ratio Indicate whether PRS has met its loan covenant that requires a minimum current ratio of 1.2. Yes Calculate the net profit margin at January 31. (Round your answer to 2 decimal places.) Net Profit Margin % Indicate whether PRS has achieved its objective of 10 percent. Voc