The ledger of Construction Rental Ltd. on March 31, 2021 includes the following accounts before quarterly adjusting entries have been prepared: Credit Debit $ 3,600 2,800 25,000 146,400 Prepaid Insurance Supplies Equipment Cash Accumulated Depreciation Equipment Common Shares Retained Earnings Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense $ 8,400 84,100 10,000 20,000 9,300 60,000 -0- 14,000 191,800 191,800 An analysis of the accounts shows the following: 1. The equipment depreciation is $350 per month. 2. One half of the unearned rent was earned during the quarter. 3. The 1-year, 6% notes payable have been outstanding since January 1 of the current year. The interests are due at maturity. 4. Supplies on hand total $950. 5. Insurance expires at the rate of $300 per month. The company has a 30% income tax rate. Required: a) Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly. b) Calculate net income for the first quarter of 2021. b) Prepare, in good form and with proper disclosure, a statement of financial position for the first quarter of 2021. Please type your answers in the box below