Royal Inc. provides cleaning services. The company adjusts its accounts monthly but performs closing entries annually on December 31. The firm's unadjusted balances dated December 31, 2020, is shown as follows: DR CR Office equipment. 72,000 Office supplies 800 Accounts receivable 90 000 Notes payable 60.000 Cash 266 500 Prepaid rent 3,600 Unexpired insurance 1,500 Accounts payable 4,000 Dividends 3,000 Accumulated depreciation: office equipment 24,000 Office supplies expense 4,500 Retained earnings 40,000 Rent expense 14,700 Salaries expense 330,000 Utilities expense. 4,800 Insurance expense 2,200 Depreciation expense: office equipment 11,000 Consulting fees 500,000 Income taxes expense 45,000 Interest expense 3,000 Capital stock ? Interest payable 600 Unearned consulting fees 22.000 Income taxes payable 9,000 Dividends payable. 3,000 Additional information available at end of 31 December 2020: a.) Accrued but unrecorded and uncollected cleaning fees earned total $25,000 at December 31,2020. b.) The company determined that $15,000 of previously unearned consulting fee had now been earned at December 31, 2020. c.) Office supplies still on hand at December 31 total $300. d.) The company purchased all of its equipment when it first began business. At that time, the estimated useful life of the equipment was six years. e.) The company prepaid its six-month insurance policy of $1,500 on December 1, 2020. f.) Accrued but unpaid salaries total $12,000 at December 31, 2020. g.) On September 1, 2020, the company borrowed $60,000 by signing an eight-month, 4 percent note payable. The entire amount, plus interest, is due on March 1, 2021. h.) The company's accounting firm estimates that income taxes expense for the entire year is $50,000. The unpaid portion of this amount is due April in 2021. REQUIRED: Prepare an adjusted trial balance and statement of retained earnings as at 31 December 2020