ply westion 1. Open general ledger T-accounts and enter opening balances as of September 30, 2024. 2. Open inventory records for the three inventory items and enter opening balances as of September 30, 2024. Complete the inventory records using the following transactions: Oct. 1, 12, 15, 28: Nov. 1, 5, 15, 18, and Dec. 27. 3. Record the transactions in the general journal. 4. Post transactions to the general ledger. 5. Prepare adjusting entries for the year ended December 31, 2024, and post to the ledger a. Depreciation, $55,500 (75% selling. 25% administrative). b. Supplies on hand: office, $310; warehouse, $565. c. A physical inventory account resulted in the following counts: desk lamps, 995; table lamps, 6,794; and floor lamps, 15,000. Update the inventory records. 6. Prepare an adjusted trial balance. 7. Provide a summary for the month, in both units and dollars, of the change in inventory for each item in the following format: (Click the icon to view the format.) Does the sum of the ending balances in the inventory records match the balance in Merchandise Inventory in the general ledger? If not, review the transactions to find your error. 8. Prepare Danes Lamp Company's multi-step income statement and statement of owner's equity for the year ended December 31, 2024, and a classified balance sheet as of December 31, 2024. 9. Calculate the following ratios for DLC as of December 31, 2024: gross profit percentage, inventory turnover, and days' sales in inventory. 10. Record and post the closing entries. 11. Prepare a post-closing trial balance. Danes Lamp Company Trial Balance September 30, 2024 Balance Account Credit Debit 455,000 0 134,100 410 340 14,000 820.000 138,000 380,000 267,600 0 476,900 Cash Accounts Receivable Merchandise Inventory Office Supplies Warehouse Supplies Land Building Office Furniture and Equipment Warehouse Fixtures Accumulated Depreciation Accounts Payable Danes, Capital Danes, Withdrawals Sales Revenue Cost of Goods Sold Salaries Expense-Selling Utilities Expense-Selling Supplies Expense-Selling Depreciation Expense--Selling Salaries Expense-Administrative Utilities Expense-Administrative Supplies Expense--Administrative Depreciation Expense-Administrative 0 2,630,350 1,025,000 268,000 31,000 0 0 89,000 20,000 0 0 Total $ 3,374,850 $ 3,374,850 Oct 1 Purchased lamps on account from Village Lights, terms n/30, FOB destination: 4,000 desk lamps at $4 each 8,000 table lamps at $23 each 5,500 floor lamps at $29 each Oct. 12 Sold lamps on account to Prime Home Furnishings, terms 2/10, 1/30 4,500 table lamps at 547 each Oct. 15 Sold lamps on account to Valdosta Office Supply, torms 1/10, V30: 500 desk lamps at $15 each Oct. 20 Received a check from Prime Home Furnishings for full amount owed on Oct. 12 sale. Oct. 23 Received a check from Valdosta Office Supply for full amount owed on Oct. 15 sale. Oct 28 Sold lamps on account to Skyway Home Stores, terms 2/10, 1/30 3,500 table lamps at $47 each 2,000 floor lamps at $64 each Oct 30 Paid amount due to Village Lights from Oct. 1 purchase. Oct. 31 Paid salaries, $39,000 (75% selling. 25% administrative). Oct 31 Paid utilities, $2,600 (60% selling, 40% administrative), Nov. 1 Sold lamps on account to Valdosta Office Supply, terms 3/10, 1/30: 3,000 desk lamps at $15 each Nov. 5 Purchased lamps on account from Village Lights, terms 1/30, FOB destination: 4,000 desk lamps at $6 each 10,500 table lamps at $24 each 11,000 floor lamps at $32 each Nov. 5 Received a check from Skyway Home Stores for full amount owed on Oct. 28 sale. Nov. 8 Received a check from Valdosta Office Supply for full amount owed on Nov. 1 sale. Nov. 10 Purchased and paid for supplies: $450 for the office: $575 for the warehouse. Nov. 15 Sold lamps on account to Morgan Office Supply, n/30 1,600 desk lamps at $15 each Nov. 18 Sold lamps on account to Capital Discount Stores, terms 1/10, 1/30: 1,500 table lamps at $47 each 1,600 floor lamps at $64 each Nov. 28 Received a check from Capital Discount Stores for full amount owed on Nov. 18 sale. Nov. 30 Paid salaries $39.000 (75% selling. 25% administrative). Nov. 30 Paid utilities, $2,140 (60% selling, 40% administrative). Dec, 5 Paid amount due to Village Lights from Nov. 5 purchase. Dec. 15 Received a check from Morgan Office Supply for full amount owed on Nov. 15 sale. enden Anfan the human 2/22 UU. 15 Dec. 27 More Info $30,000 Daves withdraw 120.000 from the business Sold lamps on account to Prime Home Furnishings, terms 3/10,n/30: 4,700 desk lamps at $15 each 6,000 table lamps at $47 each Paid salaries, $39,000 (75% selling, 25% administrative). Paid utilities, $2,800 (60% selling, 40% administrative). Dec. 31 Dec. 31 Item Desk Lamp Table Lamp Quantity Unit Cost Total Cost 2,800 $ 7 $ 19,600 3,800 $ 13 49,400 2,100 $ 31 65,100 $ 134,100 Floor Lamp Total