Crimson Tide Music Academy offers lessons in playing a wide range of musical instruments. The unadjusted trial balance as of December 31, 2024, appears below. December 31 is the company's fiscal year-end. Accounts Cash Accounts Receivable Debits $ 14,300 9,900 Credits Interest Receivable 0 Supplies 2,400 Prepaid Rent 7,600 Land 82,000 Notes Receivable: 24,000 Accounts Payable $ 8,300 Salaries Payable Deferred Revenue Utilities Payable Common Stock Retained Earnings Service Revenue Interest Revenue Salaries Expense Rent Expense Supplies Expense 0 5,500 0 88,200) 20,300 46,200 0 25,500 0 0 2,800 Utilities Expense Totals $ 168,500 $ 168,500 In addition, the company had the following year-end adjusting entries. Transaction Accounts Title Salaries Expense Salaries Payable. Debits Credits 2,300 2,300 Interest Receivable Interest Revenue 1,000 1,000 0. Supplies Expense 1,500 Supplies 1,500 d. Deferred Revenue 3,500 Service Revenue 3,500 Rent Expense 5,600 Prepaid Rent 5,600 L. Utilities Expense 400 Utilities Payable 400 Navt and 6 Prepare an adjusted trial balance. CRIMSON TIDE MUSIC ACADEMY Adjusted Trial Balance December 31, 2024 Accounts + Debit Credit Cash $ 14,300 Accounts Receivable 9,900 Interest Receivable 1,000 ok Supplies 900 Prepaid Rent 2,000 ant Land 82,000 Notes Receivable 8,300 Accounts Payable $ 8,300 rences Salaries Payable 2,300 Deferred Revenue 2,000 Utilities Payable 400 Common Stock 88,200 Retained Earnings 20,300 Service Revenue 42,700 Interest Revenue 1,000 Salaries Expense 24,000 Rent Expense 5,600 Supplies Expense 1,500 Utilities Expense 2,400 Totals $ 151,900 $ 165,200 Prepare an income statement for the year ended December 31, 2024. CRIMSON TIDE MUSIC ACADEMY Income Statement For the Year Ended December 31, 2024 Revenues: Total Revenues Expenses: Total Expenses + $ < Req 3 Req 4B >