Please help solve this analysis based on the given information...

One Trick Pony (OIP) incorporated and began operations near the end of the year, resulting in the following post-closing balances at December 31 : The following information is relevant to the first month of operations in the following year: - OTP will sell irventory at $140 per unit. Orps January 1 inventory balance consists of 50 units at a total cost of $2,000,01P '5 policy is to use the FIFO method, recorded using a perpetual inventory system. - In December, OTP recelved a \$5,600 payment for 40 units OTP is to dellver in Jancary, this obllgation was recorded in Deferred Revenue. Rent of $1,400 was unpaid and recorded in Accounts Payable at December 31. - OTP's notes payable mature in three years, and accrue interest at a 10% annual rate. January Transactions a. Included in OTP's January 1 Accounts Recelvable balance is a \$2.400 balance due from Jeff Letroiski. Jeff is having cash flow problems and cannot pay the $2,400 balance at this time. On 01,01, OTP arranges with Jeff to corvert the $2,400 balance to a sixmonth note, at 10% annual interest. Jeff signs the promissory note, which indicates the principal and all interest will be due and payable to OTP on July 1 of this yeat. b. OTP paid a $560 insurance premlum on 01/02, covering the month of January; the payment is recorded directly as an expense. c. OTP purchased an additional 200 units of inventory from a supplier on account on 0105 at a total cost of $8,000, with terms n/30. d. OTP pald a courier $400 cash on 0105 for same day delivery of the 200 units of inventory. e. The 40 units that OIP's customer paid for in advance in December are dellvered to the customer on 01/06 f On 0107. OTP received a purchase allowance of $1,200 on account, and then paid the amount necessary to settle the balance owed to the supplier for the 405 purchase of inventory (in c). 9. Sales of 60 units of inventory occurring duting the period of 01/07-01/10 are recorded on 01/10. The sales ferms are n/30. h. Collected payments on 01/14 from sales to customers recorded on 01/10 1. OTP poid the first 2 weeks' wages to the employees on 01/16. The total pald is $2.880 f. Wrote off a $950 customer's account bolance on 01/8. OTP uses the allowance method, not the direct write off method. k Pald $2.800 on 01/19 for December and January rent. See the earlier bullets regarding the December portion. The January portion will expire soon, so it is charged directly to expense. 1. OTP recovered $430 cash on 01/26 from the customer whose account had previously been written off on 01/18 m. An unrecorded $300 usility bill for January artived on 0127 . it is due on 02/15 and will be paid then. n. Sales of 70 units of inventory during the period of 01/1001/28, with terms n/30, are recorded on 01/28. o. Of the sales recorded on 0128, 10 units are returned to OTP on O130. The inventory is not damaged and can be resold. OTP charges sales returns to a contra revenue account p. On 01/31, OTP records the $2,880 employee salary that is owed but will be paid February 1 . q OTP uses the aging method to estimate and adjust for uncollectible accounts on 01/31. Al of OTP's accounts recelvable fall into a single aging category, for which 100 is estimated to be uncollectble. (Update the balances of both refevant accounts prior to determining the approptiate odjustment) 1. Accrue interest for January on the notes payable on 01/31. 5. Accrue interest for January on Jeff Letrotskis note on 01/31 (see a) (Round percentage answer to 1 decimal place.) Gross profit percentage Number of units in ending inventory Cost per unit of ending inventory \begin{tabular}{|l|} \hline% \\ \hline Units \\ \hline per Unit \\ \hline Aet Sales) iather han the agin \\ \hline \end{tabular} If OTP had used the percentage of sales method (using 2% of Net Sales) rather than the aging method, what amounts would OTC's January financial statements have roported for (i) Bad Debt Expense and (ii) Accounts Receivable, net? Bad Debt Expense Accounts Receivable, net if OTP had used LIFO rather than FIFO, what amount would OTC have reported for Cost of Goods Sold on 01/10