2 On December 31, 2018. Alan and Company prepared an income statement and balance sheet but failed to take into account four adjusting journal entries. The income statement, prepared on this incorrect basis, reported Income before income tax of $27500. The balance sheet (before the effect of income taxes) reflected total ossets. $85,000, total liabilities. $37.500, and stockholders' equity $47,500 The data for the four adjusting journal entries follow: 800.9023 a Effect of Amortization of $7500 for the year on software was not recorded b. Salaries and Wages amounting to $16,500 for the last three days of December 2018 were not paid and not recorded (the next payroll will be on January 10, 2019) c. Rent revenue of $4,050 was collected on December 1, 2018, for office space for the three month period December 1, 2018, to February 28, 2019. The $4050 was credited in full to Deferred Revenue when collected d. Income taxes were not recorded and not paid. The income tax rate for the company is 30% Required: Complete the following table to show the effects of the four adjusting Journal entries. (Negative amounts should be indicated by a minus sign.) Total Liabilities Stockholders' Equity 37.500 5 47.500 $ Total Assets 85.000 (7.500) Items Amounts reported Effect of amortization Efect of salaries and wages Effect of rent revenue Adjusted balances d. Emoct of income tax Correct amounts Net Income 27.500 5 (7.500) (16.500) 1.350 16.500 2.700