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Required information E4-14 (Algo) Reporting an Adjusted Income Statement [LO 4-2, LO 4-4, LO 4-6] [The following information applies to the questions displayed below] Dyer,

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Required information E4-14 (Algo) Reporting an Adjusted Income Statement [LO 4-2, LO 4-4, LO 4-6] [The following information applies to the questions displayed below] Dyer, Incorporated, completed its first year of operations on December 31,2021 Because this is the end of the annual accounting period, the company bookkeeper prepared the following preliminary income statement: You are an independent CPA hired by the company to audit the firm's accounting systems and financial staternents. In your audit, you developed additional data as follows. a Wages for the last three days of December amounting to $410 were not recorded or paid b. The $500 telephone bill for December 2021 has not been recorded or paid c. Depreciation of equipment amounting to $24,000 for 2021 was not recorded. d interest of $600 was not recorded on the notes payable by Dyec, Incorporated e. The Rental Revenue account includes $5.000 of revenue to be earned in January 2022 t Supplies costing $700 were used during 2021 , but this has not yet been recorded g. The income tax expense for 2021 is $8,000, but it wont actually be paid until 2022 2. Prepare, in proper form, an adjusted income statement for 2021 3-a. Did the adjustments have a significant overall effect on the company's net income? Yes No 3-b. By what dollar amount did net income change as a result of the adjustments

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