$1$

Required information

On Jonuary $1,2024,$ the general ledger of TNT Fireworks includes the following account balances:

During January $2024,$ the following trensactions occur:

January $1$ Purchase equipment for $$19,6$ee$.$ The company estimates a residual value of $$1,$ fea and a six$-$year service

$1$ ife.

January $4$ Pay cash on accounts payable, $$9,6$ee$.$

January g Purchase additional inventory on account, $$83,980.$

January $15$ Receive cash on accounts receivable, $$22,100.$

January $19$ Pay cash for salarics, $$29,98$e$.$

January $28$ Pay cash for January utilities, $$16,6$ea$.$

January $30$ Firework sales for January total $$221,$ eed. All of these sales are on account. The cost of the units sold is

$$115,$ see.

Information for acjusting entries:

a$.$ Depreciation on the equipment for the month of Janusry is calculated using the straight$-$line method.

b$.$ The company records an adjusting entry for $$3,670$ for estimated future uncollectible accounts.

c$.$ The company has accrued interest on notes receivable for January.

d$.$ Unpaid salaries owed to employees at the end of Jonuary are $$32,700.$

e$.$ The company accrued income toxes at the end of Janusry $$9,100.$

Prepore o multiple$-$step income statement for the period ended January $31,2024.$