Can you please explain me this problem I need an explanation with these requirements? Please also tell me where are part A,B,C?

Answer requirements: a), b), and c) income statement only. For requirement c), do NOT prepare a statement of financial position and do NOT prepare a statement of retained earnings. Thank You!

The trial balance and other information for consulting engineers Mustang Rovers Consulting Limited follow: Credit $ 750 Mustang Rovers Consulting Limited Trial Balance December 31, 2020 Debit Cash $ 83,700 Accounts receivable 81,100 Allowance for doubtful accounts Supplies 1,960 Equipment 85,000 Accumulated depreciation-equipment Notes payable Common shares Retained earnings Service revenue Rent expense 9,750 Salaries and wages expense 28,500 Insurance expense 18,500 Utilities expense 1,080 Miscellaneous expense 720 $310,310 6,250 7,200 35,010 161,100 100,000 $310,310 Additional information: 1. Service revenue includes fees received in advance from clients of $6,900. 2. Services performed for clients that were not recorded by December 31 totalled $7,300. 3. Bad debt expense for the year is $6,300. 4. Insurance expense includes a premium paid on December 31 in the amount of $6,000 for the period starting on January 1, 2021. 5. Equipment is depreciated on a straight-line basis over 10 years. Residual value is $15,000. 6. Mustang gave the bank a 90-day, 12% note for $7,200 on December 1, 2020. 7. Rent is $750 per month. The rent for 2020 and for January 2021 has been paid. 8. Salaries and wages earned but unpaid at December 31, 2020, are $2,598. 9. Dividends of $80,000 were declared on December 15, 2020 for payment on February 1, 2021. Instructions a. From the trial balance and other information given, prepare annual adjusting entries as at December 31, 2020. Round amounts to the nearest dollar. b. Prepare an adjusted trial balance for Mustang Rovers as at December 31, 2020. c. Prepare an income statement for 2020, a statement of financial position as at December 31, 2020, and a statement of retained earnings for 2020