Selected accounts of Portage Properties, a real estate management firm, are shown below as of January 31, 20X8, before any accounts were adjusted. Prepaid insurance $3,600 Supplies $ 1,710 Office Equipment $ 16,000 Unearned rent revenue $ 15,550 Salaries expense $ 2,325 Rent revenue $ 20,000 Cash $11,915 Portage Properties prepares monthly financial statements. Using the following information, adjust the accounts as necessary on January 31, 20X8 and prepare a partial income statement and balance sheet. a. Prepaid insurance represents a two-year premium paid on January 1, 20X8. b. Supplies of $710 were still available on January 31, 20X8. c. Office equipment is expected to last 8 years (96 months). d. On January 1, Portage collected $5,550 for 6 months' rent in advance from a tenant renting space for $925 per month. An additional $10,000 refundable deposit was wrongly added to the "Unearned Rent" account. e. Salaries of $675 had been earned by employees over Christmas but not yet recorded as of January 31, 20X8