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On December 31.2022. Wildhorse Co. prepared an income statement and balance sheet, but failed to take into account three adjusting entries. The balance sheet showed

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On December 31.2022. Wildhorse Co. prepared an income statement and balance sheet, but failed to take into account three adjusting entries. The balance sheet showed total assets $159.000 total liabilities $74200 and stockholders' equity $84,800. The incorrect income statement showed net income of $74,200. The data for the three adjusting entries were: 1. Salaries and wages amounting to $10,600 for the last 2 days in December were not paid and not recorded. The next payroll will be in January. 2. Rent payments of $8,480 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 2022 is $9,540. 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 $74,200 $159,000 $74,200 $84,800 Effects of: Salaries and Wages Rent Revenue Depreciation 9540 Correct balances

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