On January $1,2024,$ the general ledger of Parts Unlimited includes the following account balances: Record each of the transactions listed above in the 'General Journal' tab $($these are shown as items $1-11)$ assuming a

perpetual FIFO inventory system. Review the 'General Ledger' and the 'Trial Balance' tabs to see the effect of the

transactions on the account balances.

Record adjusting entries on December $31$ in the 'General Journal' tab $($these are shown as items $12-17).$

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

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

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

Record closing entries in the 'General Journal' tab $($these are shown as items $18-19).$

Using the information from the requirements above, complete the 'Analysis' tab. deprecation$).$ If the industry average fixed asset turnover is $0\mathrm{.}75,$ is the company more or less efficient at generating sales with its fixed

assets than other companies in the same industry? $($Hint: For the amount of fixed assets, use the net amount of all tangible long$-$term

assets.$)$