On December 1, 2019, an advance rent payment of $25,800, representing a three-month prepayment for the months of December, January, and February, was received in cash from the company's tenant. Required: Complete the below table. Indicate the financial statement effect. (Enter decreases with a minus sign to indicate a negative financial statement effect.) Use the horizontal model to record the effects of the following items a. The three months of rent collected in advance on December 1, 2019 Balance Sheet Assets Liabilities Stockholders' Equity Net Income b. The adjustment that will be made at the end of each month to show the amount of rent "eamed" during the month Balance Sheet Assets Liabilities Stockholders' Equity Net Income Income Statement Revenues Equity Net income Expenses Income Statement Equity Net Income Revenues Expenses