NEED DONE ASAP DUE TODAY PLEASE AND THANK YOU!! (b) What amounts should be shown for each of the following on the income statement for the year? (1) Interest Expense (2) 121 Admissions Revenue (3) Advertising Expense (4) Salaries and Wages Expense $ The accounts listed below appeared in the December 31 trial balance of the Metlock Theater. Debit Credit Equipment $202,416 Accumulated Depreciation-Equipment $63,040 Notes Payable 162,000 Admissions Revenue 385,000 Advertising Expense 15,470 Salaries and Wages Expense 57,820 Interest Expense 2.520 (1) Depreciation Expense Accumulated Depreciation-Equipment (2) Interest Expense Interest Payable (3) Admissions Revenue Unearned Admissions Revenue (4) Prepaid Advertising Advertising Expense (5) Salaries and Wages Expense Salaries and Wages Payable 11,093 2,592 55,800 1.167 5.030 11,093 2.592 55,800 1.167 5,030 From the account balances listed above and the information given below, prepare the annual adjusting entries necessary on December 31.(Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts. Round answers to O decimal places, eg. 5,250) (1) (2) (3) The equipment has an estimated life of 16 years and a salvage value of $24,928 at the end of that time. (Use straight-line method.) The note payable is a 90-day note given to the bank on October 20 and bearing interest at 8%. (Use 360 days for denominator.) In December, 1,860 coupon admission books were sold at $30 each and recorded as Admissions Revenue. They could be used for admission any time after January 1. (4) Advertising expense paid in advance and included in Advertising Expense $1,167. (5) Salaries and wages accrued but unpaid $5,030. * Your answer is incorrect. What amounts should be shown for each of the following on the income statement for the year? (1) Interest Expense (2) Admissions Revenue (3) Advertising Expense (4) Salaries and Wages Expense 2592 55800 1167 +A $ 5030