RWP3-1 (Algo) Great Adventures Continuing Problem [The following information applies to the questions displayed below.] Tony and Suzie graduate from college in May 2024 and begin developing their new business. They begin by offering clinics for basic outdoor activities such as mountain biking or kayaking. Upon developing a customer base, they'll hold their first adventure races. These races will involve four-person teams that race from one checkpoint to the next using a combination of kayaking, mountain biking, orienteering, and trail running. In the long run, they plan to sell outdoor gear and develop a ropes course for outdoor enthusiasts. On July 1, 2024, Tony and Suzie organize their new company as a corporation, Great Adventures Incorporated The articles of incorporation state that the corporation will sell 23,000 shares of common stock for $1 each. Each share of stock represents a unit of ownership. Tony and Suzie will act as co-presidents of the company. The following business activities occur during July for Great Adventures. The following information relates to year-end adjusting entries as of December 31, 2024. a. Depreciation of the mountain bikes purchased on July 8 and kayaks purchased on August 4 totals $8,800. b. Six months' of the one-year insurance policy purchased on July 1 has expired. c. Four months of the one-year rental agreement purchased on September 1 has expired. d. Of the $1,800 of office supplies purchased on July 4,$280 remains. e. Interest expense on the $45,000 loan obtained from the city council on August 1 should be recorded. f. Of the $2,600 of racing supplies purchased on December 12 , $170 remains. g. Suzie calculates that the company owes $13,900 in income taxes. Complete this question by entering your answers in the tabs below. For the period July 1 to December 31,2024 , prepare an income statement. RWP3-1 (Algo) Great Adventures Continuing Problem Part 5 5. For the period July 1 to December 31, 2024, prepare an income statement, statement of stockholders' equity and classified balanc sheet. Complete this question by entering your answers in the tabs below. For the period July 1 to December 31, 2024, prepare a statement of stockholders' equity. All account balances on July 1 were zero. 5. For the period July 1 to December 31, 2024, prepare an income statement, statement of stockholders' equity and classified balance sheet. Complete this question by entering your answers in the tabs below