Credit The following accounts appeared in the December 31 trial balance: Debit Equipment $960,000 Acc. Depreciation- equipment Notes payable Sales revenue Advertising expense" 62,000 Salaries and wages expense 80,000 Interest expense 9,000 $120,000 186,000 750,000 Consider the following transactions:- a. The equipment has a useful life of 16 years and a salvage value of $40,000. ST-line depreciation applies. b. The note payable is a 90-day note given to the bank on October 20 and bearing interest at 10%. c. In December, 2,000 coupons were sold at $25 each; they can be used for admission any time after January 1. Of the advertising expense balance, $1,100 is paid in advance. e. Salaries accrued but unpaid are $11,800. Required: Part a. (10 marks) Prepare the adjusting entries necessary on December 31. Part b. (10 marks) What amounts should be shown for each of the following on the income statement for the year? Interest expense Sales revenue Advertising expense Salaries and wages expense