! Required information Problem 3-9A (Algo) Complete the full accounting cycle (LO3-3, 3-4, 3-5, 3-6, 3-7) [The following information applies to the questions displayed below.] The general ledger of Zips Storage at January 1, 2024, includes the following account balances: Accounts Cash Accounts Receivable Prepaid Insurance Land Accounts Payable Deferred Revenue Common Stock Retained Earnings Totals Debits $25,500 Credits 16,300 13,800 157,000 $7,600 6,700 152,000 46,300 $212,600 $212,600 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. Problem 3-9A (Algo) Part 8 8-a. Prepare the income statement for the year ended December 31, 2024. Expenses: ZIPS STORAGE Income Statement For the Year Ended December 31, 2024 0 Total Expenses 8-b. Prepare the classified balance sheet for the year ended December 31, 2024. Assets Current assets: Total current assets Long-term assets: ZIPS STORAGE Balance Sheet December 31, 2024 0 Liabilities Current liabilities: Total current liabilities 0 Stockholders' Equity Total stockholders' equity 0 Total assets $ 0 Total liabilities and stockholders' equity $ 0