North Star prepared the following unadjusted trial balance at the end of its second year of operations ending December

Other data not yet recorded at December $31$:

a$.$ Rent expired during the year, $$1,220.$

b$.$ Depreciation expense for the year, $$1,020.$

c$.$ Utilities used, unrecorded, and unpaid $$9\mathrm{.}200.$

d$.$ Income tax expense, $$410.$

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Net Incorme

Had the adjusting entries not been recorded, would net income have been overstated or understated, and by what amount?

Required:

Compute the amount of net income using $($a$)$ the preliminary $($unadjusted; numbers and $($b$)$ the final $($acqusted$)$ numbers. Had the

adjusting entries not been recorded. would net income have beenoverstated or understated. and by what amounl?

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Compute the amount of net income using $($a$)$ the preliminary $($unadjustod$)$ numbers and $($b$)$ the final $($adjusted$)$ numbers.

a$.$ Preiminary Net incone

b$.$ Aefusled Net Incorne