Hannibal Apartments Company credits Advances from Tenants whenever a payment is received from tenants. It prepares annual financial statements but no monthly reports. At the start of the year the Advances From Tenants account had a balance of $8,100. During the year rent payments of $52,000 were received from tenants. At the end of the year an analysis of individual tenant accounts shows that $9,540 of monies received during the year were appropriately to cover next years rent and should be set up as Advances from Tenants.

Required 1: What is the proper amount of rental revenue for Hannibal to show in its income statement this year?

Required 2: By how much the balance of Advances from Tenant's account increased (decreased) between Balance sheets dates?