Milbank Repairs \& Service, an electronics repair store, prepared the following unadjusted trial balance at the end of its first year of operations: Milbank Repairs \& Service Unadjusted Trial Balance June 30, 20Y4 2. Determine the revenues, expenses, and net income of Milbank Repairs \& Service before the adjusting entries. Revenues $ Expenses Net income q 3. Determine the revenues, expenses, and net income of Milbank Repairs \& Service after the adjusting entries. Revenues $ Expenses Net income q 4. Determine the effect of the adjusting entries on Nancy Townes, Capital. Enter the amount as positive numbers. Nancy Townes, Capital by $ For preparing the adjusting entries, the following data were assembled: - Fees earned but unbilled on June 30 were $8,720. - Supplies on hand on June 30 were $7,120. - Depreciation of equipment was estimated to be $12,040 for the year. - The balance in unearned fees represented the June 1 receipt in advance for services to be provided. During June, $16,740 of the services were provided. - Unpaid wages accrued on June 30 were $1,540