Assignment Content Problem - 1: Compute the net income for December 2019 based on the following amounts presented on the partial adjusted trial balance of Next Century Company. Accumulated Depreciation - Equip $30,000 Depreciation Expense 20,000 Salaries and Wages Expense 20,000 Service Revenue 80,000 Unearned Service Revenue 8,000 Advertizing expenses 5,000 Pre-paid rent 10,000 Account payable 12,000 Problem - 2: Use the following accounts and information to prepare, in good form, an income statement, a retained earnings statement, and a balance sheet for Majors Industries for the month ended August 31, 2017. Accounts payable $1,100 Accounts receivable 5,400 Buildings 60,000 Cash 18,600 Service revenue 20,700 Common stock 52,000 Retained earnings (beginning) 25,900 Dividends Insurance expense Supplies Notes payable Rent expense Salaries expense $ 3,000 1,200 1,400 3,300 3,400 10,000