From the trial balance and other information given, prepare annual adjusting entries as of December 31, 2017. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.)

Prepare income statement

Prepare a statement of owners equity for 2017. MontyPerez withdrew $17,100 cash for personal use during the year.

Prepare classified balance sheet

MONTY PEREZ, CONSULTING ENGINEER TRIAL BALANCE DECEMBER 31, 2017 Debit Credit Cash $29,500 56,400 Accounts Receivable Allowance for Doubtful Accounts $718 Supplies 1,730 Prepaid Insurance 1,050 Equipment 33,800 Accumulated Depreciation-Equipment 8,450 Notes Payable 7,200 Owner's Capital 35,342 Service Revenue 112,964 Rent Expense (13 months of rent) 9,334 Salaries and Wages Expense 30,360 Utilities Expenses 1,750 Office Expense 750 $164,674 $164L674 Totals 1. Fees received in advance from clients $6,010, which were recorded as revenue. 2. Services performed for clients that were not recorded by December 31, $5,145. 3. Bad debt expense for the year is $1,294. 4. Insurance expired during the year $471. 5. Equipment is being depreciated at 10% per year. 6. Monty Perez gave the bank a 90-day, 10% note for $7,200 on December 1, 2017 7. Rent of the building is $718 per month. The rent for 2017 has been paid, as has that for January 2018, and recorded as Rent Expense. 8. Office salaries and wages earned but unpaid December 31, 2017, $2,292