one or for not recorded. The 14 percent Jay, Inc., a party rental business, completed its third year of operations on December 31. Because this is the end of the annual accounting period, the company bookkeeper prepared the following tentative Income statement Income Statement Bent revenue $ 107,000 Expenses salaries and wages expense 24.800 maintenance expense 10,200 Bont expense iltis expense 3.300 Gas and all aspense 3,100 Riscellaneous expenses (items not listed elsewhere) Total expenses EROT Income You are an independent CPA hired by the company to audit the company's accounting systems and review the financial statements. In your audit, you developed additional data as follows: a Wages for the last three days of December amounting to $700 were not recorded or paid estimated telephone usage at $410 for December, but nothing has been recorded or paid Interest is payable on tre maturity door of the decling the cost of maintenance supplies used during the current yest The Unearned Rent Revenue account includes $4,900 of revenue to be eamed in January of next year 9. The income tax expense is $4,600. Payment of income tax will be made next year . Required 1. What adjusting entry for each item ( through a should Jay record at December 31 2. Prepare a corrected income statement for the current year in good form, including earnings per share, assuming that 6,600 shares of stock are outstanding all year 3. Compute the total asset turnover ratio based on the corrected information. Assume the beginning-of-the-year balance for Jay's total assets was $58,420 and its ending balance for total assets was $65.580 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 What artistinn entry for mach item fall thrush in hrudin At December 11 fnn entrierend for train