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

Accounts Debit Credit

Cash $ $59,000$

Accounts Receivable $25,600$

Allowance for Uncollectible Accounts $ $2,500$

Inventory $36,600$

Notes Receivable $(5\%,$ due in $2$ years$)15,600$

Land $158,000$

Accounts Payable $15,100$

Common Stock $223,000$

Retained Earnings $54,200$

Totals $ $294,800$ $ $294,800$

During January $2024,$ the following transactions occur:

January $1$ Purchase equipment for $$19,800.$ The company estimates a residual value of $$1,800$ and a six$-$year service life.

January $4$ Pay cash on accounts payable, $$9,800.$

January $8$ Purchase additional inventory on account, $$85,900.$

January $15$ Receive cash on accounts receivable, $$22,300.$

January $19$ Pay cash for salaries, $$30,100.$

January $28$ Pay cash for January utilities, $$16,800.$

January $30$ Firework sales for January total $$223,000.$ All of these sales are on account. The cost of the units sold is $$116,500.$

The following information is available on January $31,2024.$

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

The company records an adjusting entry for $$3,610$ for estimated future uncollectible accounts.

The company has accrued interest on notes receivable for January.

Unpaid salaries owed to employees at the end of January are $$32,900.$

The company accrued income taxes at the end of January $$9,300.$Record each of the transactions listed above in the 'General Journal' tab $($these are shown as items $1$ to $8)$ assuming a

FIFO perpetual inventory system. The transaction on January $30$ requires two entries: one to record sales revenue and one

to record cost of goods sold. Review the 'General Ledger' and the 'Trial Balance' tabs to see the effect of the transactions

on the account balances.

Record adjusting entries on January $31$ in the 'General Journal' tab $($these are shown as items $9$ to $13).$

Review the adjusted 'Trial Balance' as of January $31,2024,$ in the 'Trial Balance' tab.

Prepare a multiple$-$step income statement for the period ended January $31,2024,$ in the 'Income Statement' tab.

Prepare a classified balance sheet as of January $31,2024,$ in the 'Balance Sheet' tab.

Record the closing entries in the 'General Journal' tab $($these are shown as items $14$ and $15).$

Using the information from the requirements above, complete the 'Analysis' tab.