Leoning mappen your Val's Hair Emporium operates a hair salon. Its unadjusted trial balance as of December 31, 2021, follows, along with information about selected accounts. Account Names Cash Debit $ 3,500 Credit Supplies 4,000 Prepaid Rent 5,100 Accounts Payable Salaries and Wages Payable Income Tax Payable Further Information As reported on December 31 bank statement. Based on count, only $1,150 of supplies still exist. This amount was paid November 1 for rent through the end of January. $ 1,350 This represents the total amount of bills received for supplies and utilities through December 15. Val estimates that the company has received $420 of utility services through December 31 for which it has not yet been billed. 0 Stylists have not yet been paid $200 for their work on December 31. 0 The company has paid last year's income taxes but not this year's taxes. 1,700 This amount was contributed for common stock in prior years. 800 This is the balance reported at the end of last year. 70,950 Customers pay cash when they receive services. Common Stock Retained Earnings Service Revenue Salaries and Wages Expense 28,800 Utilities Expense 11,900 Rent Expense 17,000 Supplies Expense 4,500 0 Totals $ 74,800 $ 74,800 Income Tax Expense This is the cost of stylist wages through December 30. This is the cost of utilities through December 15. This year's rent was $1,700 per month. This is the cost of supplies used through November 30. The company has an average tax rate of 25%. 2. Name the five pairs of balance sheet and income statement accounts that require adjustment and indicate the amount of adjustment for each pair. Adjustment Balance Sheet Account (1) Supplies (2) Prepaid Rent (3) Salaries and Wages Payable (4) Income Tax Payable (5) Accounts Payable + Related Income Statement Account Amount Supplies Expense Rent Expense Salaries and Wages Expense Income Tax Expense Utilities Expense