Net incom Papa atinents and fincial Matements LO 2, 3, 4), AP and a classified balance hel P4-4 Salt Creek Golf Inc. was organized on July 1, 2017. Quarterly financial statements are prepared. Information from the unadjusted and adjusted tabular summary on Sep- tember 30 is shown as follows. The $14,800 in the revenue column includes Service Revenae $14,100 and Rent Revenue: $700. The $10,170 in the expense column includes Salaries and Wages $8,800, Rent $900, and Utilities $470 Stockholders' Equity Assets Act Sup 700 400 1,200 1300 Dep Equip Equip 15.000 0 Notes Aco Sal/ WAL Uncarn Re Cm. Retained Earnings Pay- Stock R Exp Dev 5,000 1070- 0 L000 14,000 14.500 10,170-600 A (AD) (AZ (All (A) LAS) LAN AT M 1000 180 900 15.000 350 1070 600 50 00 14.000 15,600-11.090 400 Instructions Net income Tot assets $2.510 $23.430 (a) Record the adjustments that were made. Include an explanation for each adjustment - to revenue or expense. (b) Prepare an income statement and a retained earnings statement for the 3 months end- ing September 30 and a classified balance sheet at September 30. (c) If the note bears interest at 12%, how many months has it been outstanding