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Revise the data in your spreadsheet based on the following assumptions, and then answer the questions that follow Expenses: Assets: Advertising Expense Insurance expense Salaries expense Rent expense $14,000 20,000 49,000 10,000 Cash Accounts receivable Supplies Land $26,000 24,000 15,000 55,000 Liabilities: Salaries payable Notes payable 12,000 36,000 Revenues: Service revenue Interest revenue 94,000 9,000 Dividends: Dividends 9,000 Equity: Cormon stock Retained earnings 44,000 27,000 Assume the company has an increase in its Salaries Expense of 20% and a decrease in Service Revenue of 15%. Both of which will be settled after the year end. Adjust and recalculate the balances in the Income Statement and Balance Sheet. All sales are on account. 3. What is the revised balance in Accounts Receivable? $11,900 $9,900 $17,900 $4,900 4. What is the revised balance in Salaries Payable? $5,500 $10,500 $21,800 $18,500