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On December 31, 2022, Pharoah Company prepared an income statement and balance sheet, but failed to take into account three adjustments. The balance sheet

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On December 31, 2022, Pharoah Company prepared an income statement and balance sheet, but failed to take into account three adjustments. The balance sheet showed total assets $138,000, total liabilities $64,400, and stockholders' equity $73,600. The incorrect income statement showed net income of $64,400. The data for the three adjustments were: 1 2. Salaries and wages amounting to $9,200 for the last 2 days in December were not paid and not recorded. The next payroll will be in January. Rent payments of $7,360 were received for two months in advance on December 1. The entire amount was recorded as Unearned Rent Revenue when received. 3. Depreciation expense for 2022 is $8.280. Complete the following table to correct the financial statement amounts shown. (Enter negative amounts using either a negative sign preceding the number eg-45 or parentheses eg. (45)) Item Incorrect balances Net Income Total Assets Total Liabilities $64,400 $138,000 $64,400

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