Below is the trial balance of Noar's Publishing at December 312020. Nour's Publishing Trial balanee as at December 31 Trading account: Sales Opeaing isventory Purchases Carriage inwards 5 \$ Other revenue and expenses: 6,000 Ren1 Heating and lizhting 15.000 300,000 Advertising expense 14,000 Motor expenses 5,500 6,500 Discounts allowed 1,000 Carriage outwards 2,000 Balance sheet accounts: Equipment 25,000 Equipment - accumulated depreciation 5,000 Motor vehicle 60,000 Motor vehicle - accumslated depreciation 15,000 Receivables 25,000 Allowance for reeenables 1.500 Bank 18,500 VAT liability 17,350 Payables 16,650 Bank loan Captial 20,000 Drawings 28.500 40,500 422.000 $22.000 The following information is relevant for the emd-of-period adjustwents. 1 Depeciation on the equipresen is peovided at 10% per annam on the straiglar line basis: 2 Depreciatice on the motor vehick is providod at 25% per annum on the retucing balance method. 3 Rent includes a prepayment of $3,000. 4 Advertising expense includes a prepayment of $1.500. 5 Nour extimanes that $5,000 due fom cudomers wall be inecoverahle and must be writtes oft. 6 The allowance for receivables is to be set at 4% of net receivables at 31 December 2020. 7 The bank loan is repayable in 8 years' time. Interest payable on the loan is 8% and will be paid ence per year. 8. The heating bill will arrive on 10 January 2021 and about $600 is expected to relate to the period until 31 December 2020. 9 The closing inventery at 31 December 2020 is valued at $15,000. 10 The subscription income of $6,000 received felates to the period from 1 May 2020 to 30 April 2021. Revirircd: 1) Make the end-of-period adjustments using double-entry bookkeeping entries without a journal narrative 2) Prepare the income statement for the year ended December 31,2020. 3) Prepare the balance shoet for Nour's publishing as at 31 December 2020. 4) What would be the effect on the financial statements at Decembet 31, 2020, if the adjusting entry for the heating bill were sot recorded at the end of the year