Cleaning Service Company's Trial Balance on December 31, 2020 is as follows: Account name Debit Credit Cash 700 Supplies Pre-paid insurance Pre-paid office rent Equipment Accumulated depreciation - Equipment Accounts payable Unearned service revenue 3,000 800 700 29,000 7,000 2,800 500 Share capital Ordinary Retained earnings 5,800 2,100 Dividend 3,000 Service revenue 25,000 Salary expense 6,000 Total 43,200 43,200 Adjusted transactions 1. Dr Insurance expense 400 Cr Prepaid insurance 400 2. Dr Rent expense 400 Cr Prepaid office rent 400 3. Dr Unearned revenue 400 Cr Revenues 400 4. Dr Account receivable 3000 Cr Service revenue 3000 5. Dr Depreciation expense 1200 Cr Accumulated depreciation 1200 6. Dr Salaries and wages expense 1700 Cr Salaries and Wages payable 1700 Required: Prepare adjusted trial balance .Prepare Income Statement, Statement of Retained Earnings and Statement of Financial Position for December, 2020. Why are adjutsing entries needed?