Sterling Cooper, Inc. calculate the (12/31/18) ending balances. 1. Performed advertising services earning $35,000 cash and $7,000 on account. 2. Paid operating expenses of $24,000. 3. Recelved cash for advertising services yet to be performed, $5,000. 4. On October 31t paid rent in advance for the next 6 months, $3,600. 5. Paid $400 of A/P 6. Collected $10,000 in cash from amounts previously included in Accounts Receivable. 7. At year end Sterling Cooper had earned $4,000 of the $5,000 received in transaction 3. 8. Hint: Adjust the Prepaid Rent account ns in the horizontal model below and Prepare an Income Statement, Statement of Stockholders' Equity, and Balance Sheet, for Sterting Cooper the year ending 2018. S/E Revenue Expenses Net Liabilitie Cash A/R Supplie id A/P Unearne Notes Common Retaine Rent Payable Stock d Earnings Beg 67000 6000200o 30000 500 25000 60000177000