The following are the trial balance and the other information related to Martinez Perez, a consulting engineer. MARTINEZ PEREZ, CONSULTING ENGINEER TRIAL BALANCE DECEMBER 31, 2017 Debit Credit $29,500 56,400 $718 1,730 1,050 33,800 Cash Accounts Receivable Allowance for Doubtful Accounts Supplies Prepaid Insurance Equipment Accumulated Depreciation Equipment Notes Payable Owner's Capital Service Revenue Rent Expense (13 months of rent) Salaries and Wages Expense Utilities Expenses Office Expense 8,450 7,200 35,342 112,964 9,334 30,360 1,750 750 Totals $164,674 $164,674 1. Fees received in advance from clients $6,010, which were recorded as revenue. 2. Services performed for clients that were not recorded by December 31, $5,145. 3. Bad debt expense for the year is $1,294. 4. Insurance expired during the year $471. 5. Equipment is being depreciated at 10% per year. 6. Martinez Perez gave the bank a 90-day, 10% note for $7,200 on December 1, 2017. 7. Rent of the building is $718 per month. The rent for 2017 has been paid, as has that for January 2018, and recorded as Rent Expense. 8. Office salaries and wages earned but unpaid December 31, 2017, $2,292. No. Account Titles and Explanation Debit Credit 1. Service Revenue Unearned Service Revenue 6010 2. Accounts Receivable Service Revenue 5145 3. Bad Debt Expense 1294|| Allowance for Doubtful Accounts 1294 4. Insurance Expense NiuHLICELLULO Prepaid Insurance 5. Depreciation Expense Accumulated Depreciation-Equipment 3380 6. Interest Expense Interest Payable 7. Prepaid Rent Rent Expense 8. Salaries and Wages Expense Salaries and Wages Payable 2292 Click if you would like to Show Work for this question: Open Show Work Prepare an income statement for 2017. (Enter loss using either a negative sign preceding the numb e.g. (45).) MARTINEZ PEREZ, CONSULTING ENGINEER Income Statement For the Year Ended December 31, 2017 Revenues Service Revenue 112964 Expenses Rent Expense Salaries and Wages Expense Utilities Expenses Office Expense Depreciation Expense Insurance Expense Bad Debt Expense Interest Expense Total Expenses Net Income / (Loss) Click if you would like to Show Work for this question: Open Show Work