Prepare a ciassihed balance sheet for 2025. (list current ossets in the order of liquidityJ MICHAEL CONSULTING ENGINEER Balance Sheet Assets 5 5 Labilities and Stocktolders' Equity 5 4 The following are the trial balance and the other information related to Michael Consulting Engineers. 1. Fees received in advance from clients $5,980, which were recorded as revenue. 2. Services performed for clients that werenot recorded by December 31,$4,526. 3. Bad debt expense for the year is $1,483. 4. Insurance expired during the year $501 5. Equipment is being depreciated at 108 per year. 6. Michael gave the bank a 90 -day. 10% note for $7,200 on December 1, 2025. 7. Rent of the buliding is $758 per month. The rent for 202.5 has been pald, as has that for January 2026, and recorded as Rent Expense. 8. Otfice salaries and wages eamed but unpaid December 31,2025,$2,510 Mn. Arrnutitithe and Evnlamstan MICHAEL CONSULTING ENGINEER Income Statement For the Year Ended December 31, 2025 Revenues * Service Revenue Expenses Total Expenses $ 108074