od Required information [The following information applies to the questions displayed below) Val's Hair Emporium operates a hair salon. Its unadjusted trial balance as of December 31, 2018, follows, along with information about selected accounts Account Names Debit Credit Further Information Cash $4,400 As reported on December 31 bank statement. Supplies 4.900 Based on count, only $1,500 of supplies still exist. Prepaid Rent 7.800 This amount was paid November 1 for rent through the end of January, Accounts Payable $ 1.800 This represents the total amount of bitts received for supplies and utilities through December 15, Val estimates that the company has received $510 of utility services through December 31 for which it has not yet been billed. Salaries and Wages Stylists have not yet been paid $150 for their work on Payable December 31. Income Tax Payable @ The company has paid last year's incone taxes but not this year's taxes. Common Stock 2,600 This amount was contributed for common stock in prior years. Retained Earnings 900 This is the balance reported at the end of last year, Service Revenue 85,700 customers pay cash when they receive services. Salaries and Wages 29,700 Expense This is the cost of stylist wages through December 30. Utilities Expense 22,800 This is the cost of utilities through December 15. Bent Expense 26,000 This year's rent was $2.500 per month Supplies Expense 5,400 This is the cost of supplies used through November 30. Income Tax Expense The company has an average tax rate of 25. Totats 591,000 591,000 4-a. Prepare the adjusted not income that the company should report for the year ended December 31, 2018 4.b. By what dollar amount did the adjustments in requirement (3) cause net income to increase or decrease? Required information Complete this question by entering your answers in the tabs below. Req 4A Reg 48 Prepare the adjusted net income that the company should report for the year ended December 31, 2018 VAL'S HAIR EMPORIUM Income Statement 0 Reg 40 > 4-a. Prepare the adjusted net income that the company should report for the year ended December 31, 2018. 4-b. By what dollar amount did the adjustments in requirement (3) cause net income to increase or decrease? Complete this question by entering your answers in the tabs below. Reg 4A Reg 4B By what dollar amount did the adjustments in requirement (3) cause net income to increase or decrease? Net income