2.2. Name the five pairs of balance sheet and income statement accounts that require adjustment.

3.3. Calculate the desired balances for each account listed in the unadjusted trial balance.

4.4. Prepare the adjusting journal entries that are required at December 31, 2017. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Val's Hair Emporium is a hair salon. Its unadjusted trial balance as of December 31, 2017, follows, along with information about selected accounts. Credit Account Name Cash Supplies Prepaid Rent Accounts Payable Debit $ 31,400 9,100 13,200 $ 2,700 0 Further Information As reported on December 31 bank statement. Based on count, only $4,400 of supplies still exist. This amount was paid November 1 for rent through the end of January. This represents the total amount of bills received for supplies and utilities through December 15. Val estimates that the company has received $1,050 of utility services through December 31 for which it has not yet been billed. Stylists have not yet been paid $270 for their work on December 31. The company has paid last year's income taxes but not this year's taxes. This amount was contributed to the company in prior years. This is the balance reported at the end of last year. Customers pay cash when they receive services. This is the cost of stylist wages through December 30. This is the cost of utilities through December 15. This year's rent was $4,400 per month. This is the cost of supplies used through November 30. The company has an average tax rate of 30 percent. Wages Payable Income Tax Payable Contributed Capital Retained Earnings Hair Styling Revenue Wages Expense Utilities Expense Rent Expense Supplies Expense Income Tax Expense 3,200 3,300 147,800 35,100 15,800 44,000 8,400 Totals $157,000 $157,000 Required: 1. Calculate the preliminary) unadjusted net income for the year ended December 31, 2017