The following are the trial balance and the other information related to Michael Consulting Engineers. 1. Fees recelved in advance from cilents $5,980, which were recorded as reventie 2. Services performed for clients that were not recorded by December 31, 54,526 . 3. Bad debtexpense for the year is 51,483 , 4. Insurance expired during the year $501 5. Equipment is being depreciated at 105 peryoar 6. Michael gave the banka 90-day, 10 s. note for $7,200 on December 1.2025 . 7. Rent of the bulsding is $758 per month. The rent for 2025 has been paid, as has that for January 2026 , and recorded as Rent Expense. 8. Offce salaries and wages earned but unpaid December 31, 2025, 52,510. rom the trial balance and other information given, prepare annual adjusting entries as of December 31, 2025. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.) Prepare an income statement for 2025. (Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)