1. The following trial balance of Mabuhay Equipment Rental, as of December 31, 2020, contains the following account balances: MABUHAY EQUIPMENT RENTAL Trial Balance December 31, 2020 Debit Credit Cash P 105,600 Accounts Receivable 72,600 Office Supplies 12,000 Prepaid Rent 82,500 Prepaid Insurance 11,880 Equipment 198,000 Accumulated Depreciation - Equip. P 66,000 Accounts Payable 51,150 Rogelio Lim, Capital 381,240 Rogelio Lim, Drawing 39,600 Rental Service Revenue 589,500 Salaries Expense 412,500 Utilities Expense 75,000 Travel Expense 58,410 Miscellaneous Expense 19,800 Total P 1 . 0 8 7 . 890 P1 . 087 . 890 Adjustment data at December 31,2020, are as follows: (a) Rent expense for the year 2020, amounts to P 66,000. (b) Unexpired insurance at December 31,2020, amounts to P 2,970. (c) The depreciation on the equipment is P 13,200 per year (d) Salaries incurred but unpaid at December 31, 2020, amounts to P6,000 (e) Unused office supplies at December 31,2020, P 3,000 (f) Accrued Rental Service Revenue at December 31,2020, P 7,000 Instructions: Prepare the following 1) 10- column work sheet 2) Income statement 3) Statement of financial Position or balance sheet 4) Statement of Capital