2 A company had calculated net income to be $78,100 based on the unadjusted trial balance. The following adjusting entries were then made for: Salaries and wages owed but not yet paid of $845 8 04:20:08 . Interest earned but not received from investments of $805 . Prepaid insurance premiums amounting to $605 have expired Unearned revenue in the amount of $805 has now been earned. Required: Determine the amount of net income (loss) that will be reported after the adjustments are recorded Multiple Choice $80.315 $75,040 $78,260 $77,860 3 The Don't Tread on Me Tire Company had retained earnings at December 31, 2015 of $216,000. During 2016, the company had revenues of $416,000 and expenses of $358,000, and the company declared and paid dividends of $12,600. Retained earnings on the balance sheet as of December 31, 2016 will be: 01:29:05 Multiple Choice $261,400 O $274,000 $319,400 $45,400 4 The asset account Office Supplies has a balance of $895 at the beginning of the year. The amount on hand at the end of the year is $690. The company has calculated the Supplies Expense for the year to be $5,400. Based on this information, what amount of office supplies was purchased during the year? 01:29:02 Multiple Choice $6,090 O $4,710 $0 $5,195 Farnworth Corp. pays income tax at an average rate of 35 percent. This year its revenue is $126,000 and its expenses are $83.000. The adjusting entry to record the income tax expense will: 5 Corno Multiple Choice decrease be by $5.050 O decrease stockholders eoy by $15.050 O were choreovy by $15.00 decree net income by $43.000