3. Calculate the desired balances for each account listed in the unadjusted trial balance. VAL'S HAIR EMPORIUM Adjusted Trial Balance At December 31, 2017 Account Titles Debit Credit Hairstyling revenue 'Wages expense Supplies expense Utilities expense Rent expense Income tax expense Totals $ 0 $ 0 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 Canh Supplies Prepaid Rent Accounts Payable Debit $ 38,300 10,300 15,000 $ 3,000 Wages Payable Income Tax Payable Contributed Capital Retained Earnings Hair Styling Revenue Wages Expense Utilities Expense Rent Expense Supplies Expense Income Tax Expense 0 0 3,500 3,900 165,800 Farther Information As reported on December 31 bank statement. Based on count, only 54,700 of supplies still exiat. 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 $1,200 of utility services through December 31 for which it has not yet been billed. Stylists have not yet been paid $300 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 $5,000 per month. This is the cost of supplies used through November 30. The company has an average tax rate of 30 percent. 36,600 16, 700 50,000 9,300 0 Totals $176,200 $176,200