Rainmaker Environmental Consultants is just finishing its second year of operations. The company$$s unadjusted trial balance at October $31,2023,$ follows:

RAINMAKER ENVIRONMENTAL CONSULTANTS

Unadjusted Trial Balance

October $31,2023$

Acct.No$.$ Account Debit Credit

$101$ Cash $ $26,800$

$106$ Accounts receivable $69,000$

$109$ Interest receivable $0$

$111$ Notes receivable $58,000$

$126$ Supplies $6,100$

$128$ Prepaid insurance $4,760$

$131$ Prepaid rent $29,400$

$161$ Office furniture $92,000$

$162$ Accumulated depreciation, office furniture $ $32,000$

$201$ Accounts payable $18,800$

$210$ Wages payable $0$

$233$ Unearned consulting revenue $27,600$

$301$ Jeff Moore, capital $251,480$

$302$ Jeff Moore, withdrawals $28,800$

$401$ Consulting revenue $240,020$

$409$ Interest income $560$

$601$ Depreciation expense, office furniture $0$

$622$ Wages expense $200,000$

$637$ Insurance expense $0$

$640$ Rent expense $48,000$

$650$ Supplies expense $7,600$

Totals $ $570,460$ $ $570,460$

Rainmaker prepares adjustments each October $31.$ The following additional information is available on October $31,2023.$

It was determined that $$12,800$ of the unearned consulting revenue had not yet been earned.

It was discovered that $$14,800$ of the balance in the Consulting Revenue account was for services to be performed in November.

The balance in the Prepaid Rent account represents three months of rent beginning September $1,2023.$

Accrued wages at October $31$ totalled $$7,600.$

The office furniture was purchased on March $1,2022,$ and has an estimated useful life of two years. After two years of use, it is expected that the furniture will be worthless.

Accrued consulting revenue at year$-$end totalled $$5,000.$

Interest of $$93$ had accrued on the note receivable for the month of October.

The balance in the Prepaid Insurance account represents the remaining balance of a two$-$year policy purchased on April $1,2022.$

A count of the supplies on October $31$ revealed a balance remaining of $$700.$

Required:

$1.$ Set up balance column accounts for Rainmaker Environmental Consultants and enter the balances listed in the unadjusted trial balance. $($Enter the adjusting values in the order of Transaction i$.$e$.,$ a through i$.)$

$2.$ Complete the following T$-$Account with the adjusting entries for October $31,2023.$

$3.$ Prepare an adjusted trial balance.

$4-$a$.$ Use the adjusted trial balance to prepare an income statement.

$4-$b$.$ Use the adjusted trial balance to prepare a statement of changes in equity. Assume that the owner, Jeff Moore, made no owner investments during the year.

$4-$c$.$ Use the adjusted trial balance to prepare a balance sheet. Assume that the owner, Jeff Moore, made no owner investments during the year. $($Be sure to list the assets and liabilities in order of their liquidity.$)$