The following working paper shows the unadjusted and the adjusted trial balance for Farah Company as of December 31, 2019. Unadjusted Trial Bahnce Adjusted Tral Baknce Cash Accrued reveme S 47,640 14.000 $ 47,640 22,000 Prepaid insurance (Prepayments) Office equipment Accum Depreciation-Office equip. Accounts payabk Interest payable (Accruas) Salaries payable (Accnuak) Long-temm notes payable Farah. Capital Faralh, Withdrawaks Consulting fees eamed (Revenes) Depreciation expense-Office equip. Salaries expense Interest expense Insurance expense Rent expense 2.000 84.000 84,000 S 14,000 S 20.000 9,100 9.100 1,000,. 7.000 52,000 40.000 52,000 40,000 5.000 5,000 123,240 131.240 6,000 74,000 2,200 3,000 67.000 1,200 5000 14,500 14,500 Required: 1- Prepare the adjusting entries that have been made in Farah Company. 2- Explain the differences between the adjusting entries and other journal entries. Also, explain why adjusting entries are needed. 3- Prepare Farah's income statement for the year ended December 31, 2019. 4- Prepare Farah's balance sheet as at December 31, 2019. (11 Marks) (3 Marks) (2.75 Marks) (2.75 Marks)