The Unadjusted Trial Balance was prepared on March $31,2024,$ which is shown below.

$\backslash$table$[[$Account Name,Debit,Credit$],[$Cash$,340,000,],[$Accounts Receivable,$231,440,],[$Prepaid Rent Expense,$1,100,000,],[$Prepaid Advertising Expense,$3,360,],[$Unused Office Supplies,$95,000,],[$Merchandise Inventory,$150,000,],[$Computer Equipment,$1,200,000,],[$Accumulated Depreciation $-$ Computer Equipment,,$40,000],[$Furniture$,108,000,],[$Accumulated Depreciation $-$ Furniture,,$3,600],[$Accounts Payable,,$125,000],[$Notes Payable $($long$-$term$),,1,000,000$

$(1)$ Complete the adjustments section of the worksheet $[$WS$].$ Use the following information as basis for adjustments for the month ended March $31,2024.$

$($a$)$ Based on a physical count, ending inventory was determined to be $200,000$

$($b$)$ Office supplies that were used for the month amounted to $9,000.$

$($c$)$ All computers and furniture were acquired in January and have an estimated useful life of $5$ years with no residual value. FDN Trading recognizes full$-$month depreciation in the month of acquisition.

$($d$)$ The notes payable pertains to a $12\%$ bank loan taken on February $29,2024.$ The principal on the loan is due after five years.

$($e$)$ Unpaid utilities for the month of March amount to $35,000.$

$($f$)$ Prepaid Rent was paid at the beginning of March which covers $10$ months of rent.

$($g$)$ Two sales staff are paid on a weekly basis for a daily rate of $600$ each. The workweek covers Monday to Saturday and the last payment was made on March $30.$ March $31$ falls on a Sunday.

$($h$)$ Prepaid Advertising was paid to Instagram Ads on March $23,2024$ for boosting a product post for $30$ days. The contract price was $112/$day$.$ The boost was approved and applied the next day.

$($i$)$ It is estimated that $1\%$ of the Accounts Receivable is doubtful of collection. It is the company$$s first adjustment for doubtful accounts.

$(2)$ Determine the net income or net loss for the month ended March $31,2024$ and complete the worksheet $[$WS$].$

$(3)$ Journalize and post the adjusting entries on March $31,2024$ using the general journal and the general ledger $[$GJ and GL$].$

$(4)$ Prepare a functional form Statement of Profit or Loss for the month ended March $31,2024[$SPL$].$ Include any supporting notes to financial statements $[$NOTES$].$

$(5)$ Prepare a Statement of Owner$$s Equity for the month ended March $31,2024[$SOE$].$

$(6)$ Prepare a report form Statement of Financial Position as of March $31,2024[$SFP$].$ Include any supporting notes to financial statements $[$NOTES$].$

$(7)$ Journalize and post the closing entries on March $31,2024$ using the general journal and the general ledger $[$GJ and GL$].$