The general ledger of Red Storm Cleaners at January 1, 2024, includes the following account balances: Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings Totals Debits Credits $ 20,000 8,000 4,000 15,000 $ 5,000 7,500 25,000 9,500 $ 47,000 $ 47,000 The following is a summary of the transactions for the year: 1. March 12 Provide services to customers, $60,000, of which $21,000 is on account. Collect on accounts receivable, $18,000. 2. May 2 3. June 30 4. August 1 5. September 25 6. October 19 7. December 30 Issue shares of common stock in exchange for $6,000 cash. Pay salaries of $7,500 from 2023 (prior year). Pay repairs and maintenance expenses, $13,000. Purchase equipment for $8,000 cash. Pay $1,100 cash dividends to stockholders. The following information is available for the adjusting entries. Accrued salaries at year-end amounted to $19,600. Depreciation for the year on the equipment is $5,000. Office supplies remaining on hand at the end of the year equal $1,200. 3. Review the adjusted 'Trial Balance' as of December 31, 2024. 4. Prepare an income statement for the period ended December 31, 2024,