The question is not fully solved, no tables

the answer is correct. Please prepare the following $($in tables$)$:

a$.$Journal entries,

b$.$General ledgers,

c$.$trial balance,

d$.$income statement,

e$.$statement of equity

f$.$and balance sheet

Ginny and Joe Miller opened a small hardware store in $2006,$ using their own cash savings and borrowing a small sum from Ginny's parents. Nothing gave them more pride than owning and operating a locally owned business, even if it was complicated by the constant pressures placed on them by big$-$box retailes. But by $2021,$ business was booming. General Hardwace had five locations, and the Millers were considering an even greater expansion in the coming year, perhaps offering their own version of a national franchise model.

The drop$-$off in activity during the first quarter of $2022,$ however, dampened those plans. The quarter turned out to be a time for retrenchment and planning for a sustained period of contraction. The following is a summary of first quarter activity for the year $2022,$ along with the final December $31,2021,$ balance sheet $($see Exhibit $1).$

$-$ Product sales totaled $\backslash (\backslash$$ $3\backslash )$ million $($all customers paid with cash$),$ and the company had paid $\backslash (\backslash$$ $2\mathrm{.}2\backslash )$ million for that inventory sold.

$-$ Inventory purchases totaled $\backslash (\backslash$$ $1\mathrm{.}5\backslash )$ million during the quarter, all on a credit basis with the company's vendors. The company had repaid its outstanding accounts payable during the quarter in the amount of $\backslash (\backslash$$ $1\mathrm{.}7\backslash )$ million.

$-$ Marketing costs of $\backslash (\backslash$$ $10,000\backslash )$ had been paid in February, all related to a series of President's Day TV advertisements.

$-$ Wages, rents, and other administrative expenses totaled $\backslash (\backslash$$ $373,000\backslash ).$ All, except the March rent of $\backslash (\backslash$$ $50,000\backslash ),$ were paid with cash.

$-$ The month of March rent payments, totaling $\backslash (\backslash$$ $50,000\backslash )$ and due on or before March $15,$ had not been paid as of March $31.$

$-$ The company paid the balance due for taxes during the first quarter, and the Millers expected to pay any taxes due on their first$-$quacter profit during the second quarter of $2022.$ The corporate tax rate was a flat $\backslash (25\backslash \%\backslash ).$

$-$ Depreciation charges for quarter amounted to $\backslash (\backslash$$ $81,000\backslash ).$

$-$ The company acquired $\backslash (\backslash$$ $200,000\backslash )$ of fixed assets on the last day of the quarter, March $31,$ financing the entire amount with a new long$-$term note.

$-$ Existing long$-$term debt carried an average interest charge of $\backslash (8\backslash \%\backslash ).$ A first$-$quarter long$-$term debt payment of $\backslash (\backslash$$ $75,000\backslash )$ had been made on March $30,$ covering both interest and principal for the first quarter of $2022.$

Exhibit $1$

General Hardware, Inc.

Balance Sheet