a) Calculate the amount of net income that Watros Company would report in its 2031 income statement after the appropriate adjusting entries have been recorded and posted.

b)

Calculate the total liabilities reported in Watros Company's balance sheet at December 31, 2031 after the appropriate adjusting entries have been recorded and posted.

Watros Company's December 31, 2031 unadjusted trial balance reported the following accounts: Accounts payable $43,000 Accounts receivable $72,000 Advertising expense $21,000 Bonds payable $85,000 Cash ... $18,000 Common stock $27,000 Cost of goods sold $41,000 Income tax expense $15,000 Interest revenue $33,000 Inventory $54,000 Land .... $67,000 Loss on sale of equipment $13,000 Retained earnings $39,000 (at January 1, 2031 ) Sales revenue $91,000 Trademark $48,000 Unearned revenue $57,000 Wage expense ... $26,000 Watros Company has not yet recorded adjusting entries related to the following two items: 1) Watros Company received a $9,000 utility bill on December 31, 2031 for utility usage in 2031. However, Watros Company will not pay the bill until January, 2032. 2) The unearned revenue listed above relates to a $57,000 payment from a customer that Watros received on June 1, 2031. The payment was for work to be performed each month for the next 25 months, beginning in June, 2031. Calculate the amount of net income that Watros Company would report in its 2031 income statement after the appropriate adjusting entries have been recorded and posted