Required information [The following information applies to the questions displayed below.] On January 1, 2024, the general ledger of Freedom Fireworks includes the following account balances: During January 2024, the following transactions occur: January 1 Borrow $117,000 from Captive Credit Corporation. The installment note bears interest at 4% annually and matures in 5 years. Payments of $2,155 are required at the end of each month for 60 months. January 4 Receive $32,700 from customers on accounts receivable. January 10 Pay cash on accounts payable, $28,000. January 15 Pay cash for salaries, $30,600. January 30 Firework sales for the month total $198,000. The cost of the units sold is $119,000. January 31 Pay the first monthly installment of $2,155 related to the $117,000 borrowed on January 1 . 4. Prepare a multiple-step income statement for the period ended January 31,2024 . (Do not round intermediate calculations.)