Problem $3-10$A Posting, adjusted trial balance, and preparing financial statements LO$6,7$Rainmaker Environmental Consultants is just finishing its second year of operations. The companys unadjusted trial balance at October $31,2023,$ follows: RAINMAKER ENVIRONMENTAL CONSULTANTSUnadjusted Trial BalanceOctober $31,2023$Acct.No$.$ Account Debit Credit$101$Cash$$26,400106$Accounts receivable $65,000109$Interest receivable $0111$Notes receivable $54,000126$Supplies $5,700128$Prepaid insurance $4,080131$Prepaid rent $28,200161$Office furniture $88,000162$Accumulated depreciation, office furniture $$30,000201$Accounts payable $18,400210$Wages payable $0233$Unearned consulting revenue $26,800301$Jeff Moore, capital $237,240302$Jeff Moore, withdrawals $28,400401$Consulting revenue $236,020409$Interest income $520601$Depreciation expense, office furniture $0622$Wages expense $196,000637$Insurance expense $0640$Rent expense $46,000650$Supplies expense $7,200$ Totals$$548,980$ $$548,980$ Rainmaker prepares adjustments each October $31.$ The following additional information is available on October $31,2023.$ It was determined that for unearned consulting revenue, only $$12,400$ of the balance had not yet been earned.It was discovered that $$14,400$ of the balance in the Consulting Revenue account was for services to be performed in November.The balance in the Prepaid Rent account represents three months of rent beginning September $1,2023.$Accrued wages at October $31$ totalled $$7,200.$The office furniture was purchased on March $1,2022,$ and has an estimated useful life of two years. After two years of use, it is expected that the furniture will be worthless.Accrued consulting revenue at year$-$end totalled $$4,600.$Interest of $$89$ had accrued on the note receivable for the month of October.The balance in the Prepaid Insurance account represents the remaining balance of a two$-$year policy purchased on April $1,2022.$A count of the supplies on October $31$ revealed a balance remaining of $$660.$ Required:$1.$ Set up balance column accounts for Rainmaker Environmental Consultants and enter the balances listed in the unadjusted trial balance. $($Enter the adjusting values in the order of Transaction i$.$e$.,$ a through i$.)2.$ Complete the following T$-$Account with the adjusting entries for October $31,2023\mathrm{.}3.$ Prepare an adjusted trial balance$\mathrm{.}4-$a$.$ Use the adjusted trial balance to prepare an income statement$\mathrm{.}4-$b$.$ Use the adjusted trial balance to prepare a statement of changes in equity. Assume that the owner, Jeff Moore, made no owner investments during the year$\mathrm{.}4-$c$.$ Use the adjusted trial balance to prepare a balance sheet. Assume that the owner, Jeff Moore, made no owner investments during the year. $($Be sure to list the assets and liabilities in order of their liquidity.$)$