Company STU Trial Balance as of February 28, 2023:

Account Title	Debit ($)	Credit ($)
Cash	25,000
Accounts Receivable	30,000
Prepaid Rent	8,000
Equipment	115,000
Accumulated Depreciation		25,000
Accounts Payable		20,000
Notes Payable		50,000
Common Stock		60,000
Retained Earnings		35,000
Service Revenue		90,000
Salaries Expense	27,000
Rent Expense	10,000
Utilities Expense	5,000
Insurance Expense	12,000
Dividends	18,000

Requirements:

1. Adjust the trial balance for STU.
2. Prepare the income statement for the period ended February 28, 2023.
3. Create the statement of retained earnings for the same period.
4. Develop the balance sheet as of February 28, 2023.
5. Evaluate and explain any discrepancies found.