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[The following information applies to the questions displayed below.] On January 1, 2018, the general ledger of Grand Finale Fireworks includes the following account balances:

[The following information applies to the questions displayed below.] On January 1, 2018, the general ledger of Grand Finale Fireworks includes the following account balances:

Accounts Debit Credit
Cash $ 44,300
Accounts Receivable 47,700
Supplies 9,100
Equipment 80,000
Accumulated Depreciation $ 10,600
Accounts Payable 16,200
Common Stock, $1 par value 16,000
Additional Paid-in Capital 96,000
Retained Earnings 42,300
Totals $ 181,100 $ 181,100

During January 2018, the following transactions occur: January 2 Issue an additional 2,000 shares of $1 par value common stock for $40,000. January 9 Provide services to customers on account, $18,800. January 10 Purchase additional supplies on account, $6,500. January 12 Repurchase 1,100 shares of treasury stock for $19 per share. January 15 Pay cash on accounts payable, $18,100. January 21 Provide services to customers for cash, $50,700. January 22 Receive cash on accounts receivable, $18,200. January 29 Declare a cash dividend of $0.20 per share to all shares outstanding on January 29. The dividend is payable on February 15. (Hint: Grand Finale Fireworks had 16,000 shares outstanding on January 1, 2018 and dividends are not paid on treasury stock.) January 30 Reissue 700 shares of treasury stock for $21 per share. January 31 Pay cash for salaries during January, $43,600.image text in transcribed

4. Prepare a multiple-step income statement for the period ended January 31, 2018 GRAND FINALE FIREWORKS Multiple-Step Income Statement For the month ended January 31, 2018 Expenses Income before taxes 0 4. Prepare a multiple-step income statement for the period ended January 31, 2018 GRAND FINALE FIREWORKS Multiple-Step Income Statement For the month ended January 31, 2018 Expenses Income before taxes 0

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