Golf Academy, Inc., provides private golf lessons. Its unadjusted trial balance at December 31, 2015, follows, along with information about selected accounts. (Please see below)

1. Prepare the (preliminary) unadjusted net income statement for the year ended December 31, 2015

2. Name the five pairs of balance sheet and income statement accounts that require adjustment and indicate the amount of adjusment for each pair.

IThe following information apples to the questions displayed below.] Golf Academy, Inc, provides private golf lessons. Its unadjusted trial balance at December 31, 2015. follows, along with information about selected accounts. Account Nonnes Debit Credit Further Information 31,600 As reported on December 31 bank statement. upplies 540 Based on count, only $170 of supplies still exist. Unearned Revenue 3.170 Of this amount, $2,700 was received for December lessons and $470 for January lessons. Employees were paid $2,300 for 10 days of work through December 28. Salaries and wages payable They have not yet been paid for work on December 29 and 30. Income Tax Payable 0 The company has paid last year's income tax but not this year's tax. 0 The company has not paid the $105 of interest owed on its note Interest Payable payable for the current period. 12,600 This one-year note was taken out this year on December 1. Note Payable (long-term) Common Stock 1.000 This amount was contributed for common stock in prior years. 2.700 This is the bolence reported et the end of lost year. Retained Earnings Most customers pay cash for lessons each time they are provided, 50.570 Service Revenue but some customers pay in advance. Employees worked through December 30, but did not work on Salaries and Wages Expense 35,800 December 31 This is the cost of supplies used through November 30. Supplies Expense 2.100 The company has not poid the $105 of interest owed on its note Interest Expense payable for the current period. The company hes en overege tex rate of 20% Income Tex Expense $70,040 $70,040