1. (Adjusting Entries) Leasing Agent ledgers as of March 31 of this year are included following the account chosen before adjusting the entry has been prepared. Debit Credit Prepaid insurance $ 3.600 Inventory $ 2.800 equipment $ 25.000 Accumulated Depreciation - Equipment $ 8.400 Pay Notes $ 20.000 Rental Income Received Upfront $ 9.300 Rental income $ 60.000 Interest Cost Salary and Wage Charges $ 14.000 Account analysis shows the following. a. The equipment depreciates $ 230 per month. b. One third of the rent received in advance is recognized as income during the quarter. c. $ 300 interest is earned on notes payable. d. Inventory totals $ 850. e. Insurance ends at a rate of $ 300 per month. Instructions provide the adjustment entry on March 31, assuming that the adjustment entry is made every three months. Additional accounts are Depreciation Costs, Insurance Costs, Interest Payments and Inventory Costs. 2. (Income Statement Items) Presented below are certain account balances from Paczki Products Co. Rental income $ 6.500 Sales discount $ 7.800 Interest expense $ 12.700 Selling expenses 5 99.400 Profit is retained early $ 114.400 Sales revenue $ 390.000 Remaining retained earnings $ 125.000 Income tax expense $ 31.000 Dividend income $ 71.000 Cost of goods sold $ 184.400 Returns and sales allowances $ 12.400 Administrative costs 5 82.500 Allocation for non-controlling interests $ 17.000 Instructions From the foregoing, calculate the following: (a) total net income, (b) net income, (c) announced dividends, and (d) income attributable to controlling shareholders