Dec. The November 30, 2018, unadjusted trial balance of Elite Systems is found in the Trial balance tab. Elite Systems had the following transactions and events in December 2018, Dec. 2 Paid $1,330 cash to Southside Mall for Elite Systems share of mall advertising costs. Dec. 3 Paid $700 cash for minor repairs to the company's computer. Dec. 4 Received $5,800 cash from Potter Engineering Co. for the receivable from November. 10 Paid cash to Nina Kelley for six days of work at the rate of $180 per day. Dec. 14 Notified by Potter Engineering Co. that Elite Systems bid of $8,000 on a proposed project has been accepted. Potter paid a $2,000 cash advance to Elite Systems. Dec. 15 Purchased $1,600 of computer supplies on credit from Kennedy Office Products. Dec. 16 Sent a reminder to Fox Co. to pay the fee for services recorded on November 8. Dec. 20 Completed a project for clark Corporation and received $6,600 cash. Dec. 22 - Took the week off for the holidays. 26 28 Received $3,400 cash from Fox Co. on its receivable. 29 Reimbursed D. Kelley for business automobile mileage (600 miles at $0.32 per mile). Dec. 31 The company paid $1,900 cash in dividends. The following additional facts are collected for use in making adjusting entries prior to preparing financial statements for the company's first three months: Dec. Dec. a. The December 31 inventory count of computer supplies shows $980 still available. b. Three months have expired since the 12 month insurance premium was paid in advance. c. As of December 31, Nina Kelley has not been paid for four days of work at $180 per day d. The computer system, acquired on October 1, is expected to have a four-year life with no salvage value. e. The office equipment, acquired on October 1, is expected to have a five-year life with no salvage value f. Three of the four months' prepaid rent has expired. 9 Dec 28 Cash 3,400 Accounts receivable 3,400 10 Dec 29 192 Mileage expense Cash 192 11 Dec 31 Dividends 1,900 Cash 1,900 12 Dec 31 3,470 Computer supplies expense Computer supplies 3,470 13 Dec 31 620 Insurance expense Prepaid insurance 620 14 Dec 31 720 Wages expense Wages payable 720 15 Dec 31 1,406 Depreciation expense - Computer equipment Accumulated depreciation - Computer equipment 1,406 16 Dec 31 480 Depreciation expense - Office equipment Accumulated depreciation - Office equipment 480 17 Dec 31 3,975 Rent expense Prepaid rent 3,975 Adjusted ELITE SYSTEMS Income Statement For Three Months Ended December 31, 2019 Revenues: $ 0 0 Expenses: 0 0 0 0 0 0 0 0 0 0 Net income $ 0 nujualcu ELITE SYSTEMS Balance Sheet December 31, 2019 ASSETS Current assets: $ 0 0 0 0 0 Plant assets: 0 0 Total plant assets 0 LIABILITIES AND EQUITY Liabilities: $ 0 0 Requirement General Journal General Ledger Trial Balance Income Statement St Retained Earnings Balance Sheet Impact on Income For each adjustment, indicate the income statement and balance sheet account affected, and the impact on net income. If an adjustment caused net income to decrease, enter the amount as a negative value. Net income before adjustments can be found on the income statement tab. (Hint: Select unadjusted on the drop-down.) Show less Adjusted Account affecting the Impact on net Adjusting entry related to: Income Statement Balance Sheet a) Computer supplies income b) Prepaid insurance c) Accrued wages d) Depreciation - Computer equipment e) Depreciation - Office equipment ) Prepaid rent 0