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 32,000 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 $7,200. 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 $1,500 of office supplies purchased on July 4,$270 remains. e. Interest expense on the $37,000 loan obtained from the city council on August 1 should be recorded. f. Of the $2,800 of racing supplies purchased on December 12,$110 remains. g. Suzie calculates that the company owes $13,400 in income taxes. 4. Prepare an adjusted trial balance as of December 31, 2024. For the period July 1 to December 31,2024 , prepare an income statement, statement of stockholders' equity and classified ba heet. Complete this question by entering your answers in the tabs below. For the period July 1 to December 31,2024 , prepare an income statement. 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. Complete this question by entering your answers in the tabs below. 6. Record closing entries as of December 31, 2024 and post them to the T-accounts in Req 3 and 7 . (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Q Dranara a mant rlaminatrial halanan an af Manambar 21