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JE 2 complete the accounting cycle using the adjusted trial balance below. JM PHOTOCOPYING CENTER Adjusted Trial Balance December 31, 2019 Account Title Debit Credit Cash 16,500.00 Accounts Receivable 7.500.00 Allowance for Doubtful Accounts P 150.00 Note Receivable 5,527.50 Unused Supplies 3,000.00 Prepaid Rent 5,000.00 Photocopying Equipment 30,000.00 Accumulated Depreciation-Photocopying Equipment 450.00 Furniture and Fixtures 5,000.00 75.00 Accumulated Depreciation - Furniture & Fixtures Accounts payable 2.500.00 Loan Payable 50,000.00 Notes Payable 5,000.00 Salaries Payable 816.67 Unearned Photocopying Revenues 1,800.00 Mercado, Capital 10,000.00 Mercado, Drawing 500.00 Photocopying Revenues 24.227.50 Taxes and Licenses Expense 2,000.00 Salaries expense 4,800.00 Supplies expense 7,000.00 Utilities expense 2.500.00 Rent expense 5,000.00 Depreciation Expense Bad debts expense 525,00 166.67 TOTALS P 95,019.17 P 95,019.17 INSTRUCTIONS: Analyze the transaction carefully and do the following requirements. 1. Prepare Statement of Profit or Loss ( Income Statement ) 2. Change in Equity 3, Prepare Statement of Financial Position ( Balance Sheet )