Consider the following situations for Shocker 1. On November 28, 2024, Shocker received a $3,750 payment from a customer for services to be rendered evenly over the next three months. Deferred Revenue was credited on November 28. 2. On December 1, 2024, the company pold a local radio station $2,550 for 30 radio ads that were to be aired, 10 per month throughout December, January, and February. Prepald Advertising was debited on December 1 3. Employee salaries for the month of December totaling $7,500 will be paid on January 7, 2025 4. On August 31, 2024, Shocker borrowed $65,000 from a local bank. A note was signed with principal and 6% interest to be paid on August 31 2025 Required: Indicate by how much the assets, liabilities, and stockholders' equity in the December 31, 2024, balance sheet is higher or lower if the adjusting entry is not recorded. (If none of the categories apply for a particular Item, leave the cell blank.) Assets Liabilities Stockholders' Equity 1. 2 3 4 Total