Editing Voice Editor Reuse Files QUESTION 2 Knights Ecotourism Inc. operates a small airplane service that takes ecotourists to the beautiful reefs around the Nylon Pool in Tobago. Knights Inc. adjusts its accounts at the end of every month. Selected balances from Knights Inc. adjusted trial balance for Dec 31", 2019 appear as follows. Prepaid airport rent Unexpired insurance Airplane Accumulated depreciation: airplane Unearned passenger revenue Other Information Debit Credit $ 10,000 4,200 180,000 $80,000 75,000 1. The airplane is being depreciated over a 15-year (180-month) life with no residual value. 2. Unearned passenger revenue represents advance ticket sales for bookings in Jan and Feb, 2020 at $300 per ticket. 3. Six months' airport rent had been prepaid on Nov 1, 2019. 4. The unexpired insurance is what remains of a 12-month policy purchased on Aug 1. 5. Passenger revenue earned in Dec, 2019 totaled $40,000. Instructions: a. Calculate the following. 1. Calculate the monthly depreciation expense for the airplane 2. Calculate the monthly airport rent expense. 3. Calculate the monthly insurance expense I