On December 31, 2022, Fashion Nugget Company prepared an income statement and balance sheet and failed to take into account three adjusting entries. The incorrect income statement showed net income of $35,000. The balance sheet showed total assets, $115,000; total liabilities, $45,000; and stockholders' equity, $70,000.

The data for the three adjusting entries were: (1) Depreciation of $10,000 was not recorded on equipment.

(2) Wages amounting to $7,000 for the last two days in December were not paid and not recorded. The next payroll will be in January.

(3) Rent of $12,000 was paid for two months in advance on December 1. The entire amount was debited to Rent Expense when paid.

Complete the following tabulation to correct the financial