18. Tims Donuts has 10 employees who are paid $20 per hour. The company purchases its inventory, on account, daily. At December 31, 2021, each of Tims Donuts employees had worked 15 hours which had not been paid or recorded. Also on this date, the company had taken receipt of $80,400 of inventory from its suppliers which had not been recorded in the accounts. As of the beginning of 2021, the company had equipment totaling $2,650,000 which was depreciated at $265,000 per year. Prior to adjustments, the companys trial balance showed $310,550 in the wage expense account and $110,375 of inventory. If Tims Donuts makes the appropriate adjusting entry, how much will be reported on the December 31, 2021 income statement as wage expense?

Group of answer choices $310,550 $578,550 $307,550 $313,550