The Following is the Unadjusted Trail Balance of "Royal Company" on December 31, 2019: Items Debit Credit Cash 14,500 Prepaid Insurance 3,600 Supplies 2,800 Equipment 125,000 Accumulated Depreciation- Equipment 15,300 Salaries Expenses 14,000 Personal drawings 5100 Notes Payable 15,600 Service Revenue 60,000 Unearned service revenues 4000 Capital 70100 Total 165000 165000 An analysis of the accounts shows the following: 1. The equipment depreciates at a rate of 10% per year. 2. Supplies on hand total $700. 3. Insurance expires at the rate of $200 per month. 4. Accrued Salaries amounted to 16,000 at 31 December. 5. Earned 1500 of unearned service revenues. Required: 1. Prepare Adjusting Journal. 2. Prepare Adjusted Trial Balance. 3. Prepare the Income Statement, Owner's Equity Statement and Balance Sheet