C4.5 (Alg ) From Recording Transactions to Preparing Accrual and Deferral Adjustments and Reporting Results of the Balance Sheet and Income Statement (Chapters 2, 3, and 4) [LO 2-2, LO 2-3, LO 3-3, LO 4 2, LO 4-4 [The follon ag information applies to the questions displayed below] House of Tutors, Incorporated (HTI), is a company that runs a futoring service for high school and university students. The company reported the following amounts in its post-closing trial balance, prepared at the end of its first fiscal year, at August 31 . The company encountered the following events during September: a. HTI provided 100 hours of regular hourly tutoring at the rate of $22 per hour, all of which was collected in cash. b. HII pald tutors at the hourly rate of $11 per bout. On September 28 , HII paid for 90 hours of tutor time and promised to pay the remaining hours worked. TIP. The totat hours of expense in b, should match the totat hours of revertue in a c. HII hosted an all night review session on September 29 for people cramming for midterm exams, at a special price of $10 per attendee. Rather than collect cash at the time of the review session, HII will send bills in Octobet to the 82 people who attended the review session. d. At the beginning of the night long revlew session. HII paid $270 cish to its tutors for wages No additional siataries and wages wil be paid for the review session. e. Hificollected $270 cosh on account from students who received tutoring during the summes CHII also col cted $320 cash from a high school for a tutoring session to be held in October. g. HII determ ed that depreciation for September should be $170. h. Although H adjusted its accounts on August 31 , it has not yet paid the $47 monthly interest owed on the promissory note, for elt er August or September. The note is due in three years. 1. HTt has on $47 of supplies left at September 30 . f. HITs incon taxes are approximately 30% of income before tax. C4-5 (Algo) Part 3 Required: 3. Prepare HTI's classified balance sheet at September 30. (Amounts to be deducted should be indicated by a minus sign.)