The trial balance of Microsoft Corporation as of December 31, 2023, before adjustments, is as follows:

Account	Debit ($)	Credit ($)
Cash	25 billion
Accounts Receivable	30 billion
Inventory	35 billion
Prepaid Insurance	4 billion
Equipment	60 billion
Accumulated Depreciation		20 billion
Accounts Payable		25 billion
Salaries Expense	22 billion
Rent Expense	6 billion
Sales Revenue		70 billion
Cost of Goods Sold	40 billion
Income Tax Expense	12 billion

Additional adjustments:

• Depreciation expense for the year was 20 billion.
• Accrued salaries expense at the end of the year amounted to 5 billion.
• Prepaid insurance was adjusted to reflect 3 billion used during the year.
• Record an allowance for doubtful accounts of 3 billion.

Required:

• Prepare an adjusted trial balance for Microsoft Corporation as of December 31, 2023.
• Prepare an income statement.
• Calculate the net income after taxes.
• Determine the effect of adjusting entries on financial ratios.
• Analyze the impact of doubtful accounts on the balance sheet.