Adjusting Entries Crazy Mountain Outfitters Co., an outfitter store for fishing treks, prepared the following unadjusted trial balance at the end of its first year of operations: Crazy Mountain Outfitters Co. Unadjusted Trial Balance April 30, 2015 Debit Balances Credit Balances Cash 14,790 Accounts Receivable 98,210 23,660 Supplies Equipment Accounts Payable 495,600 23,070 Unearned Fees 26,030 Common Stock 55,000 Retained Earnings 285,000 Dividends 19,520 Fees Earned 591,600 Wages Expense 137,250 Rent Expense 104,710 Utilities Expense 75,130 Miscellaneous Expense 11,830 980,700 980,700 For preparing the adjusting entries, the following data were assembled: Supplies on hand on April 30 were $8,740. Fees earned but unbilled on April 30 were $10,710. Depreciation of equipment was estimated to be $14,790 for the year. Unpaid wages accrued on April 30 were $1,890. The balance in unearned fees represented the April 1 receipt in advance for services to be provided. Only $20,560 of the services was provided between April 1 and April 30. Required: Required: 1. Journalize the adjusting entries necessary on April 30, 20Y5. If an amount box does not require an entry, leave it blank. Apr. 30 Supplies Expense 14,920 Supplies 14,920 30 Accounts Receivable 10,710 Fees Earned 10,710 30 Depreciation Expense 14,790 Accumulated Depreciation-Equipment 14,790 1,890 30 Wages Expense Wages Payable 1,890 30 Unearned Fees 20,560 Fees Earned 20,560 2. Determine the revenues, expenses, and net income of Crazy Mountain Outfitters Co. before the adjusting entries. Revenues 591,600 Expenses 328,920 Net income $ 262,680 3. Determine the revenues, expenses, and net income of Crazy Mountain Outfitters Co. after the adjusting entries. Revenues $ 622,870 Expenses 369,340 Net income $ 253,530 4. Determine the effect of the adjusting entries on Retained Earnings. Retained Earnings decreases by s 9,150