Kindly stick to the given table structure given below

a. On January 1, 20X1, Frances Corporation started doing business and the owners contributed $200,000 capital in cash. b. The company paid $24,000 to cover the rent for the office space for the 24-month period from January 1, 20X1, to December 31, 20X2. c. On March 1, 20X1, MSK Inc. entered into a consulting contract under which Frances Corporation promised to provide consulting to MSK Inc. In return, MSK promised to pay a fee of $150,000, which was to be paid in January 20X2. Frances fulfilled its contractual obligation during 20X1. d. On July 1, 20X1, Frances purchased office equipment for $100,000 cash. The equipment has an estimated useful life of five years and no salvage value. The equipment was immediately placed into use. Frances uses the straight-line method of depreciation. It records depreciation expense in proportion to the number of months' usage. e. Through November 30, 20X1, the company had paid $66,000 to its employees for 11 months of salaries. Accrued salaries on December 31, 20X1, were $6,000. f. On December 31, 20X1, Norbert Corporation advanced $20,000 to Frances Corporation for consulting services to be provided during 20X2. Required: 1. Provide journal entries for each of these transactions. 2. Provide adjusting entries at the end of the year. 3. Prepare an income statement for the year ended December 31, 20X1. Ignore income taxes. 4. Prepare a balance sheet as of December 31, 20X1. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Provide journal entries for each of these transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet No Date General Journal Debit Credit D 7/1/20X1 No Transaction Recorded E 11/30/20X1 No Transaction Recorded Journal entry worksheet Prepare the entry to record the signing of the consultant contract. Note: Enter debits before credits. General Journal Debit Credit Date 3/1/20X1 Record entry Clear entry View general journal Journal entry worksheet Prepare the entry to record the purchase of office equipment. Note: Enter debits before credits. Date General Journal Debit Credit 7/1/20X1 Record entry Clear entry View general journal Journal entry worksheet A B C D E F > Prepare the entry to record employee salaries paid. Note: Enter debits before credits. General Journal Debit Credit Date 11/30/20X1 Record entry Clear entry View general journal Journal entry worksheet A B D E F Prepare the entry to record the advance-consulting fees received from Norbert. Note: Enter debits before credits. General Journal Debit Credit Date 12/31/20X1 Record entry Clear entry View general journal Required 1 Required 2 Required 3 Required 4 Provide adjusting entries at the end of the year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Prepare the adjusting entry to record the rent expense for 20X1. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal Required 1 Required 2 Required 3 Required 4 Provide adjusting entries at the end of the year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Prepare the adjusting entry to record annual depreciation. Note: Enter debits before credits. Transaction General Journal Debit Credit 3 Record entry Clear entry View general journal Required 1 Required 2 Required 3 Required 4 Provide adjusting entries at the end of the year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Prepare the adjusting entry to record the remaining accrued salaries at the end of 20X1. Note: Enter debits before credits. Transaction General Journal Debit Credit 4 Record entry Clear entry View general journal Required 1 Required 2 Required 3 Required 4 Provide adjusting entries at the end of the year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Prepare the adjusting entry to record the remaining accrued salaries at the end of 20X1. Note: Enter debits before credits. Transaction General Journal Debit Credit 4 Record entry Clear entry View general journal Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Prepare an income statement for the year ended December 31, 20X1. Ignore income taxes. DADA Frances Corporation Income Statement For the Year Ended December 31, 20X1 Accounts payable Accounts receivable Less: Expenses Accrued tax liability Accumulated depreciation Advances from customer Buildings 0 Capital stock Cash Provision for income taxes Cost of goods sold Depreciation Rent Utilities expense Equipment Interest payable Utilities payable Restructuring charges Retained earnings Gasoline expense Inventory Vehicle Notes payable Revenue from services rendered Vehicle expense Income tax expense Income tax payable Prepaid insurance Salaries Wages expense Wages payable Interest expense Prepaid rent Salaries payable Selling, general, and administrative expenses Supplies Options Required 1 Required 2 Required 3 Required 4 Prepare a balance sheet as of December 31, 20X1. (Amounts to be deducted should be indicated with a minus sign.) Frances Corporation Balance Sheet December 31, 20X1 Assets Accounts payable Accounts receivable Accrued tax liability Accumulated depreciation Advances from customer Buildings 1 Capital stock Total assets $ 0 Cash Liabilities Cost of goods sold Depreciation Equipment Gasoline expense Total liabilities 0 Income tax expense Income tax payable Stockholders' Equity Interest expense Interest payable Inventory Notes payable 1 0 Prepaid insurance Total stockholders' equity Total liabilities and stockholders' equity $ 0 Prepaid rent Provision for income taxes Utilities payable Salaries Rent Vehicle Salaries payable Restructuring charges Vehicle expense Retained earnings Selling, general, and administrative expenses Supplies 1 Wages expense Wages payable Revenue from services rendered Utilities expense