Requlred Informatlon Exercise 9-24 (Algo) Complete the accounting cycle using long-term liability transactions (LO9-2, 9-8) [The following information applies to the questions displayed below.] On January 1, 2024, the general ledger of Freedom Fireworks includes the following account balances: During January 2024, the following transactions occur: January 1 Borrow $109, 600 from Captive Credit Corporation. The installment note bears interest at 6% annually and matures in 5 years. Payments of $2,107 are required at the end of each month for 60 months. January 4 Receive $31,90 from customers on accounts receivable. January 10 Pay cash on accounts payable, $2, . January 15 Pay cash for salaries, $29,860. January 30 firework sales for the month total $20,40. The cost of the units sold is $117,6. January 31 Pay the first monthly installment of $2,107 related to the $109, ee borrowed on January 1. Exerclse 9-24 (Algo) Part 4 4. Prepare a multiple-step income statement for the period ended January 31, 2024. (Do not round Intermedlate calculatlons.)