Fortune Inc. prepared the following unadjusted trial balance at the end of its third year of operations ending December $31$Account TitlesDebit Credit$$12,0006,0002,40021,000$CashAccounts ReceivablesPrepaid RentEquipmentAccumulated DepreciationAccounts Payable$$1,0001,00024,8002,10050,00025,00012,500$Income tax payableCommon stockRetained earningsSales revenueSalaries and WagesUtilitiesRentDepreciation expenseTo $$78,900578,900$Income tax expenseTotalOther data not yet recorded at December $31$:a$.$ Rent expired during the year, $$1,200.$ Depreciation expense for the year, $$1,000$b c$.$ Utilities used and upaid, $$9,000$d$.$ Income tax expense, $$390$You are required to:$1.$ Indicate the accounting equation effects of each required adjustment$\mathrm{.}2.$ Prepare the adjusting jounal entries required at December $31\mathrm{.}3.$ Prepare an Adjusted Trial Balance as of December $31\mathrm{.}4.$ Compute the amount of Net Income using:a$.$ the preliminary $($unadjusted$)$ numbers and bthe final $($adjusted$)$ numbers.