QUESTION 2 Each of the following items for the Blythe Company may require an adjusting entry. If so, determine the effect the adjustment has on net income for the quarter ended March 31, 2019 (i.e., January 1 through March 31). Note: Enter your answers in digits without $ signs or commas, entering 0 (zero) if no adjustment is necessary. Use a minus sign (-) for negative income effects (i.e., all expenses should be of the form -xxx). 1. Blythe purchased insurance on December 31, 2018, paying cash of $7,200. The insurance policy covers all of 2019. 2. Blythe purchased machinery during 2018. The monthly depreciation on the machinery is $400. 3. Blythe purchased inventory during January, 2019. 4. Blythe received $1,600 cash on December 24, 2018. This cash was to provide services for a customer. The services are equally distributed over the months of January, February, March, and April of 2019