A. Use along with the notes provided below to prepare a multi-step income statement, a statement of stockholders equity JKF Inc Unadjusted Trial Balance For the year ended 31st Dec 2020 Credit Debit 200,000 200,000 250,000 100,000 1,200,000 400,000 100,000 Cash Accounts Receivable Inventory Prepaid Insurance Equipment Accumulated Depreciation Equipment Land Notes Payable (Long term) Accounts payable Unearned Service Revenue Owner's Capital Retained earnings Sales Revenue Cost of Goods Sold Selling Expenses Admin Expenses Interest revenues Loss on sale of fixed assets 100,000 100,000 50,000 500,000 300,000 1,400,000 600,000 150,000 100,000 100,000 50,000 2,950,000 2,950,000 1. 4. The following adjustments were provided Fees of $25,000, received in advance during the year were erroneously recorded in Sales revenue. 2. $50,000 recorded as unearned service was earned during the year. 3. Prepaid Insurance expired during the year $30,000. (Admin Expense) Equipment is expected to last for 5 years. Salvage value is $200,000. (Depreciation in COGS) Office salaries and wages earned but unrecorded and unpaid December 31, 2020, $20,000. (Admin Expense) A physical count of inventory on 12/31/2020 shows that $100,000 worth is remaining. 7. Provide a bad debt allowance of $ 50,000. (Selling Exp) Provide income taxes of 20% of income before taxes Dividends of 50,000 was declared (but not paid) for the year. 6. No o