North Star prepared the following unadjusted trial balance at the end of its second year of operations ending December 31. Account Titles Cash Accounts Receivable Prepaid Rent Equipment Accumulated Depreciation Accounts Payable Income Tax Payable Common Stock Retained Earnings Sales Revenue Salaries and Wages Expense Utilities Expense Rent Expense Depreciation Expense Income Tax Expense Totals Other data not yet recorded at December 31: a. Rent expired during the year, $1,180. b. Depreciation expense for the year, $1,120. c. Utilities used and unpaid, $8,800. d. Income tax expense, $370. Debit $ 11,800 5,800 Credit 2,360 20,800 24,800 12,300 $ 1,120 1,120 0 24,600 1,900 49,120 0 0 0 $ 77,860 $ 77,860 Required: 1. Indicate the accounting equation effects of each required adjustment. (Enter any decreases to Assets, Liabilities, or Stockholders' Equity with a minus sign.) Transaction Assets a. Prepaid Rent Accumulated Depreciation b. C. d. =Accounts Payable Income Tax Payable Liabilities Rent Expense Stockholders' Equity + Depreciation Expense 8,800 + Utilities Expense 370 +Income Tax Expense