I have completed everything except what is pictured. I am unsure of how to calculate the impact on net income. Thank You!

GLO302 - Based on Problem 3-3A LO P1, P2, P3, P4, P5, P6 Brown Technical Institute (BTI), a school owned by Paul Brown, provides training to individuals who pay tuition directly to the school. BTI also offers training to groups in off-site locations. Its unadjusted trial balance as of December 31, 2018, is found on the trial balance tab. BTI initially records prepaid expenses and unearned revenues in balance sheet accounts. Descriptions of items a through h that require adjusting entries on December 31 follow. a. An analysis of BTI's insurance policies shows that $2,450 of coverage has expired. b. An inventory count shows that teaching supplies costing $2,840 are available at year-end. c. Annual depreciation on the equipment is $8,200. d. Annual depreciation on the professional library is $9,400. e. On November 1, BTI agreed to do a special six-month course (starting immediately) for a client. The contract calls for a monthly fee of $2,600, and the client paid the first five months' fees in advance. When the cash was received, the Unearned Training Fees account was credited. f. On October 15, BTI agreed to teach a four-month class (beginning immediately) for an executive with payment due at the end of the class. At December 31, $3,200 of the tuition has been earned by BTI. g. BTI's two employees are paid weekly. As of the end of the year, two days' salaries have accrued at the rate of $120 per day for each employee. h. The balance in the Prepaid Rent account represents rent for December. Adjusted Brown Technical Institute Income Statement For Year Ended December 31, 2019 Revenues Tuition fees earned 133,000 45,700 Training fees earned 0 Total revenues $ 178,700 Liabilities Salaries expense EEEEE Rent expense Advertising expense Utilities expense Insurance expense Teaching supplies expense Depreciation expense - Equipment Depreciation expense - Professional library 50,680 35,200 6,025 6,450 2,450 0 - 8,200 9,400 0 - 0 Total expenses Net income 118,405 60,295 $ Adjusted Brown Technical Institute Balance Sheet December 31, 2019 Assets Current assets Cash $ Accounts receivable Teaching supplies Prepaid insurance 37,125 8,000 8,050 4,900 0 0 $ 58,075 $ 47,000 (28,200) 18,800 Total current assets Plant assets Professional library Accumulated depreciation - Professional library Professional library, net Equipment Accumulated depreciation - Equipment Equipment, net Total plant assets Total assets 82,000 (24,600) 57,400 76,200 134,275 $ Liabilities Current liabilities $ 27,200 Accounts payable Unearned training fees Salaries payable 7,800 480 0 Total liabilities $ 35,480 Equity t Common stock 8,000 93,995 Retained earnings Total equity Total Liabilities & Equity 101,995 137,475 $ a. An analysis of BTI's insurance policies shows that $2,450 of coverage has expired. b. An inventory count shows that teaching supplies costing $2,840 are available at year-end. c. Annual depreciation on the equipment is $8,200. d. Annual depreciation on the professional library is $9,400. e. On November 1, BTI agreed to do a special six-month course (starting immediately) for a client. The contract calls for a monthly fee of $2,600, and the client paid the first five months' fees in advance. When the cash was received, the Unearned Training Fees account was credited. f. On October 15, BTI agreed to teach a four-month class (beginning immediately) for an executive with payment due at the end of the class. At December 31, $3,200 of the tuition has been earned by BTI. g. BTI's two employees are paid weekly. As of the end of the year, two days' salaries have accrued at the rate of $120 per day for each employee. h. The balance in the Prepaid Rent account represents rent for December. 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 Unadjusted Impact on net income Account affecting the: Adjusting entry related to: Income statement Balance Sheet a. Insurance Insurance expense Prepaid insurance b. Teaching supplies Teaching supplies expense Teaching supplies Depreciation expense - c. Depreciation - equipment Accumulated depreciation - Equipment Equipment Depreciation expense - Accumulated depreciation - Professional d. Depreciation - library Professional library library e. Training fees Training fees earned Unearned training fees f. Tuition Tuition fees earned Accounts receivable g. Salaries Salaries expense Salaries payable h. Rent Rent expense Prepaid rent Total impact on income due to adjustments Net income before adjustments Net income after adjustments $ 0 0 GLO302 - Based on Problem 3-3A LO P1, P2, P3, P4, P5, P6 Brown Technical Institute (BTI), a school owned by Paul Brown, provides training to individuals who pay tuition directly to the school. BTI also offers training to groups in off-site locations. Its unadjusted trial balance as of December 31, 2018, is found on the trial balance tab. BTI initially records prepaid expenses and unearned revenues in balance sheet accounts. Descriptions of items a through h that require adjusting entries on December 31 follow. a. An analysis of BTI's insurance policies shows that $2,450 of coverage has expired. b. An inventory count shows that teaching supplies costing $2,840 are available at year-end. c. Annual depreciation on the equipment is $8,200. d. Annual depreciation on the professional library is $9,400. e. On November 1, BTI agreed to do a special six-month course (starting immediately) for a client. The contract calls for a monthly fee of $2,600, and the client paid the first five months' fees in advance. When the cash was received, the Unearned Training Fees account was credited. f. On October 15, BTI agreed to teach a four-month class (beginning immediately) for an executive with payment due at the end of the class. At December 31, $3,200 of the tuition has been earned by BTI. g. BTI's two employees are paid weekly. As of the end of the year, two days' salaries have accrued at the rate of $120 per day for each employee. h. The balance in the Prepaid Rent account represents rent for December. Adjusted Brown Technical Institute Income Statement For Year Ended December 31, 2019 Revenues Tuition fees earned 133,000 45,700 Training fees earned 0 Total revenues $ 178,700 Liabilities Salaries expense EEEEE Rent expense Advertising expense Utilities expense Insurance expense Teaching supplies expense Depreciation expense - Equipment Depreciation expense - Professional library 50,680 35,200 6,025 6,450 2,450 0 - 8,200 9,400 0 - 0 Total expenses Net income 118,405 60,295 $ Adjusted Brown Technical Institute Balance Sheet December 31, 2019 Assets Current assets Cash $ Accounts receivable Teaching supplies Prepaid insurance 37,125 8,000 8,050 4,900 0 0 $ 58,075 $ 47,000 (28,200) 18,800 Total current assets Plant assets Professional library Accumulated depreciation - Professional library Professional library, net Equipment Accumulated depreciation - Equipment Equipment, net Total plant assets Total assets 82,000 (24,600) 57,400 76,200 134,275 $ Liabilities Current liabilities $ 27,200 Accounts payable Unearned training fees Salaries payable 7,800 480 0 Total liabilities $ 35,480 Equity t Common stock 8,000 93,995 Retained earnings Total equity Total Liabilities & Equity 101,995 137,475 $ a. An analysis of BTI's insurance policies shows that $2,450 of coverage has expired. b. An inventory count shows that teaching supplies costing $2,840 are available at year-end. c. Annual depreciation on the equipment is $8,200. d. Annual depreciation on the professional library is $9,400. e. On November 1, BTI agreed to do a special six-month course (starting immediately) for a client. The contract calls for a monthly fee of $2,600, and the client paid the first five months' fees in advance. When the cash was received, the Unearned Training Fees account was credited. f. On October 15, BTI agreed to teach a four-month class (beginning immediately) for an executive with payment due at the end of the class. At December 31, $3,200 of the tuition has been earned by BTI. g. BTI's two employees are paid weekly. As of the end of the year, two days' salaries have accrued at the rate of $120 per day for each employee. h. The balance in the Prepaid Rent account represents rent for December. 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 Unadjusted Impact on net income Account affecting the: Adjusting entry related to: Income statement Balance Sheet a. Insurance Insurance expense Prepaid insurance b. Teaching supplies Teaching supplies expense Teaching supplies Depreciation expense - c. Depreciation - equipment Accumulated depreciation - Equipment Equipment Depreciation expense - Accumulated depreciation - Professional d. Depreciation - library Professional library library e. Training fees Training fees earned Unearned training fees f. Tuition Tuition fees earned Accounts receivable g. Salaries Salaries expense Salaries payable h. Rent Rent expense Prepaid rent Total impact on income due to adjustments Net income before adjustments Net income after adjustments $ 0 0