The following account balances pertain to the KH Co. at December 31, 2019 (before adjusting entries). Debit Credit Cash ...................... ......................................................... $300,000 Prepaid Insurance ............................................................. 50,000 Land ................................................................................ 400,000 Accounts Payable ............................................................. 30,000 Common Stock ................................................................. 250,000 Retained Earnings ............................................................. 150,000 Service Revenue ............................................................... 650,000 Wages Expense ................................................................. 150,000 Rent Expense ................................................................... 180,000 Total ................................................................................ $1,080,000 $1,080,000 Additional information Required: (1) Prepare adjusting entries to KH Co.'s accounts at December 31, 2013. Each entry should be made in general journal format. Identify each entry by using the letter of the paragraph containing the additional information for the entry. (2) Prepare the current year income statement (3) Prepare the current year retained earnings statement. (4) Prepare the current year balance sheet. (5) Prepare the closing entries. The records for KH Company showed the following for 2015: Jan. 1 Dec. 31 Unearned revenue $1,600 $2,160 Accrued revenue 1,260 920 Cash collected during the year for revenue, $75,000 Show the computation of the amount of revenue that should be reported on the income statement.