work 2 (you have 3 submissions, unlimited check my work) B Required information 3 of 4 [The following information applies to the questions displayed below] The general ledger of Jackrabbit Rentals at January 1, 2024, includes the following account balances: Saved 5 s eBook Print References Accounts Cash Accounts Receivable Land Accounts Payable Notes Payable (due in 2 years) Common Stock Retained Earnings Totals Debits Credits $41,500 25,700 110,000 $15,300 30,000 100,000 $178,000 The following is a summary of the transactions for the year 1. January 12 2. February 25 3. March 19 4. April 30 5. June 16 6. July 7 7. September 30 8. November 22 9. December 30 32,700 $178,000 Provide services to customers on account, $62,400. Provide services to customers for cash, $75,300. Collect on accounts receivable, $45,700. Issue shares of common stock in exchange for $30,000 cash. Purchase supplies on account, $12,100.1 Pay on accounts payable, $11,300. Pay salaries for employee work in the current year, $64,200. Pay advertising for the current year, $22,500. Pay $2,900 cash dividends to stockholders. The following information is available for the adjusting entries. Accrued interest on the notes payable at year-end amounted to $2,500 and will be paid January 1, 2025 Accnied lanes at year-end amounted to $1,500 and will be paid on January 5, 2025. Supplies remaining on hand at the e 10 the year equal $2,300 8-a. Prepare the income statement for the year ended December 31, 2024. 8-b. Prepare the classified balance sheet for the year ended December 31, 2024. Book Print 0 ferences 8-a. Prepare the income statement for the year ended December 31, 2024. 8-b. Prepare the classified balance sheet for the year ended December 31, 2024. Complete this question by entering your answers in the tabs below. Required A Required B Prepare the income statement for the year ended December 31, 2024. Service Revenue JACKRABBIT RENTALS Income Statement For the Year Ended December 31, 2024 Expenses: Total Expenses Required A Required B > 3 equal $2,300. Part 3 of 4 6.66 points eBook Print 8-a. Prepare the income statement for the year ended December 31, 2024. 8-b. Prepare the classified balance sheet for the year ended December 31, 2024. Complete this question by entering your answers in the tabs below. Required A Required B Prepare the classified balance sheet for the year ended December 31, 2024. JACKRABBIT RENTALS Balance Sheet December 31, 2024 Assets References Current assets Cash Accounts Receivable. Supplies Total current assets Long-term assets Land Current liabilities: Accounts Payable Salaries Payable Interest Payable Total current liabilities Long-term liabilities: Notes Payable Liabilities Total liabilities $ 0 Stockholders' Equity 0 Common Stock Retained Earnings Total stockholders' equity Total liabilities and stockholders' equity Total assets $