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Problems (1. The company's plant operates seven days per week with a daily payroll of $950. Wage earners are paid every Sunday. The last day ofrhe month is Saturday, March 31. e. The company rented an idle warehouse to a neighboring business on February 1, 2010, at a rate of $2,500 per month. On this date, Kretz Corporation recorded Rent Collected in Advance for six months' rent received in advance. f. On March 1, 2010, Kretz Corporation recorded a liability account, Customer Deposits, for $4,8 00. This sum represents an amount that a customer paid in advance and that Kretz will earn evenly over a fourmonth period. g. Based on its income for the month, Kretz Corporation estimates that federal income taxes for March amount to $3,900. Required 1. For each of the preceding situations, identify and analyze the adjustments to be recorded on March 31, 2010. 2. Assume that Kretz reports income of $23,000 before any of the adjustments. What net income will Kretz report for March