The unadjusted trial balance and the adjustment data for porter institute are shown below along with adjusting entry information. What is the impact of the adjusting entries on the balance sheet? show the caluclation for total assests, total liabilites and owners equity?

The unadjusted trial balance and the adjustment data for Porter Business Institute are shown below along with adjusting entry information. What is the impact of the adjusting entries on the balance sheet? Show the calculation for total assets, total liabilities, and owner's equity without the adjustments; show the calculation for total assets, total liabilities, and owner's equity with the adjustments. Which one provides the most accurate presentation of the balance sheet? Porter Business Institute Unadjusted Trial Balance December 31 4 (in millions) Cash $58,000 Accounts receivable 59,000 Prepaid insurance 12,000 Equipment 8,000 Accumulated depreciationequipment $2,000 Buildings 57,500 Accumulated depreciationbuildings 17,500 Land 55,000 Unearned rent 16,000 Long-term notes payable 50,000 Porter, Capital 115,600 Tuition fees earned 74,000 Training fees earned 23,400 Wages expense 32,000 Utilities expense 8,000 Property taxes expense 5,000 Interest expense 4,000 ________ Totals $298,500 $298,500 Additional information items: a. The Prepaid Insurance account consists of a payment for a 1 year policy. An analysis of the insurance invoice indicates that one half of the policy has expired by the end of the December 31 year-end. b. A cash payment for space sublet for 8 months was received on July 1 and was credited to Unearned Rent. c. Accrued interest expense on the note payable of $1,000 has been incurred but not paid