Cleaning Service Company's Trial Balance on December 31, 2020 is as follows: Account name Cash Supplies Pre-paid insurance Pre-paid office rent Equipment Accumulated depreciation - Equipment Accounts payable Unearned service revenue Share capital - Ordinary Retained earnings Dividend Service revenue Salary expense Total Required: Debit 700 3,000 800 700 29,000 Credit 7,000 2,800 500 5,800 2,100 3,000 25,000 6,000 43,200 43,200 1. Com up with 02 adjusting transactions for pre-paid expenses, 01 transaction for unearned revenue, 01 transaction for accrued revenue and 01 transaction for depreciation expense and 01 transaction for accrued expense on 31 Dec, 2020. (These transactions are given by yourself with reasonable numbers): Prepare adjusted trial balance 2. Prepare Income Statement, Statement of Retained Earnings and Statement of Financial Position for December, 2020. Why are adjutsing entries needed?