The following information relates to year$-$end adjusting entries as of December $31,2024.$

Depreciation of the mountain bikes purchased on July $8$ and kayaks purchased on August $4$ totals $$6,660.$

Six months$$ of the one$-$year insurance policy purchased on July $1$ has expired.

Four months of the one$-$year rental agreement purchased on September $1$ has expired.

Of the $$1,900$ of office supplies purchased on July $4,$ $$310$ remains.

Interest expense on the $$46,000$ loan obtained from the city council on August $1$ should be recorded.

Of the $$2,500$ of racing supplies purchased on December $12,$ $$200$ remains.

Suzie calculates that the company owes $$13,800$ in income taxes.

$1.$ Record each of the transactions listed above in the 'General Journal' tab $($these are shown as items $1$ to $27).$ Review the 'General Ledger' and the 'Trial Balance' tabs to see the effect of the transactions on the account balances.

$2.$ Record the adjusting entries in the 'General Journal' tab $($these are shown as items $28$ to $34).$

$3.$ Review the adjusted 'Trial Balance' as of December $31,2024.$

$4.$ Prepare an income statement for the period ended December $31,2024,$ in the 'Income Statement' tab.

$5.$ Prepare a statement of stockholder's equity for the period ended December $31,2024,$ in the 'Statement of Stockholder's Equity' tab.

$6.$ Prepare a classified balance sheet as of December $31,2024$ in the 'Balance Sheet' tab.

$7.$ Record the closing entries in the 'General Journal' tab $($these are shown as items $35$ to $37).$