A company issued financial statements for the year ended December 31, but failed to include the following adjusting entries:

1. Accrued intere st revenue earned of $1,200.
2. Po11ion of prepaid insu rance expired $I, 100.
3. Accrued taxes of $3,200.
4. Revenues of $5,200, originally recorded as unearned, have been earned by the end of the year.

Determine the con-ect amounts for the December 31 financial statements by completing the following table:

	Assets	Liabilities	Equity	Profit
Reported amounts........	$350,000	$200,000	$150,000	$70,000
[Ad d / (Subtract) Ito con-ect for item:
(i).............. ......... ....
1i)... . ...... . . . . . . . .. . . .. . . . .
(ui)... .......................
(iv)... ...... .... ............
Corrected amounts......

(16marks)