Question. 3 The ABC studio Inc year-end adjusting trial balance dated December 31, 2009. given below. ABC Studio, Inc. Adjusted Trial Balance December 31, 2009 Items Debit (Rs) Credit (Rs) Cash 171,100 Accounts receivable 9,400 Prepaid studio rent 3,000 Unexpired insurance 7,200 Supplies 500 Equipment 18,000 Acc. Depreciation: Equipment 7,200 Notes payable 10,000 Accounts payable 3,200 Salaries payable 4,000 Income taxes payable 6,000 Unearned studio revenue 8.800 Capital stock 100,000 Retained earnings 40,000 Dividends 6,000 Studio revenue earned 165,000 Salary expense 85,000 500 Supply expense 3,900 Rent expense 12,000 Insurance expense 1,900 Advertising expense Depreciation expense: Equipment 1.800 Interest expense 900 Income taxes expense 23,000 Total 344,200 344,200 Requirements Prepare income statement and balance sheet (2.5 + 2.5 marks)