Q.7

Required information [The following information applies to the questions displayed below.] The general ledger of Zips Storage at January 1, 2024, includes the following account balances: The following is a summary of the transactions for the year: 1. January 9 2. February 12 3. April 25 4. May 6 5. July 15 6. September 10 7. October 31 8. November 20 9. December 30 Provide storage services for cash, $143,100, and on account, $56,700. Collect on accounts receivable, $52,400. Receive cash in advance from customers, $13,800. purchase supplies on account, $11,000. pay property taxes, $9,400. pay on accounts payable, $12,300. Pay salaries, $132,600. Issue shares of common stock in exchange for $36,000 cash. pay $3,700 cash dividends to stockholders. 8-a. Prepare the income statement for the year ended December 31, 2024. 8-a. Prepare the income statement for the year ended December 31, 2024