On December 31, 2017, Sheridan Company prepared an income statement and balance sheet, but failed to take into account three adjusting entries. The balance sheet showed total assets $183,000, total liabilities $85,400, and stockholders equity $97,600. The incorrect income statement showed net income of $85,400. The data for the three adjusting entries were:

1.		Salaries and wages amounting to $12,200 for the last 2 days in December were not paid and not recorded. The next payroll will be in January.
2.		Rent payments of $9,760 was received for 2 months in advance on December 1. The entire amount was credited to Unearned Rent Revenue when paid.
3.		Depreciation expense for 2017 is $10,980.

Complete the following table to correct the financial statement amounts shown (indicate deductions with parentheses).

Item		Net Income		Total Assets		Total Liabilities		Stockholders Equity
Incorrect balances		$85,400		$183,000		$85,400		$97,600

effects of:

salaires and wages

rent rev

depreciation

correct balances