Question llSmrks Anderson Corporation's bookkeeper prepared the rst income statement for the company as shown below. Anderson Corporation Income Statement For the year ended Deco-her 31, 2020 Sales Revenue $ 500,000 Expenses: Salaries and wages $ 190,150 Maintenance 29,200 Rent 17,000 Utilities Selling and administrative Total expenses $ 401 700 Net income 158 300 Upon reviewing the accounting records, you nd that the following transactions were not included. 1. 2. 3. $42,000 were paid to employees on 23\"1 December 2020; of this amount, $12,000 4. 3. Anderson purchased $400,000 of equipment on January 1, 2M0 which will he depreciated at $40,000 per year. The purchase was correctly recorded in January. Interest on notes payable, $2,500 (due January 21, 2021). pertained to wages for the rst week in January 2021. On October 1, Anderson paid three months\" rent in advance in the amount of $20,000. An entry was made on October 1 to record this payment. Services worth $12,800 were provided to customers in December but not yet billed. Required: 1. 2. Prepare adjusting journal entries for the above missing items {remember to include the accounting equation effects in parentheses). 15 marks Prepare a revised income statement for 2020 (include any new expense items that you believe are missing in the income statement prepared by the bookkeeper). 5 marks _ Did the adjusting entries affect the income statement? Please anemia signify. 2.5 marks