Net Income is the last box that got cut off!

Interest Payable-Quarterly Adjustments Glendive takes out a 12%, 90-day, $100,000 loan with Second State Bank on March 1, 2017. Assume that Glendive prepares adjustments only four times a year: on March 31, June 30, September 30, and December 31. Assume a 360-day year. 2. Identify and analyze the adjustment on March 31, 2017. Activity Operating Accounts Interest Payable Increase, Interest Expense Increase Statement(s) Balance Sheet and Income Statement Feedback How does this entry affect the accounting equation? If a financial statement item is not affected, select "No Entry" and leave the amount box blank. If the effect on a financial statement item is negative, i.e, a decrease, be sure to enter the answer with a minus sign. Do not round intermediate calculations. If required, round your final answer to the nearest dollar. Balance Sheet Income Statement Stockholders' + Assets Liabilities Equity Revenues Expenses No Entry 0 Interest Payable 3,000 X 0X No Entry Interest Expense -12,000 x How does this entry affect the accounting equation? If a financial statement item is not affected, select "No Entry" and leave the amount box blank. If the effect on a financial statement item is negative, i.e, a decrease, be sure to enter the answer with a minus sign. Balance Sheet Income Statement Stockholders' Assets Liabilities Equity Revenues Expenses Cash / -100,000 x Interest Payable 0 x X No Entry Interest Expense o Int No Entry o Notes Payable No Entry No Entry