Required information E4-15 Recording Adjusting Entries and Preparing an Adjusted Trial Balance (LO 4-2, 4-3) [The following information applies to the questions displayed below) North Star prepared the following unadjusted trial balance at the end of its second year of operations ending December of 4 31. Credit Debit $12,900 6.900 2,589 21,900 OOK Account Titles Cash Accounts Receivable Prepaid Rent Equipment Accumulated Depreciation Accounts Payable Income Tax Payable Common Stock Retained Earnings Sales Revenue Salaries and Wages Expense Utilities Expense Rent Expense Depreciation Expense Income Tax Expense Totals $ 1,090 1,090 0 25, 700 3,000 52,700 Hint 25,900 13,400 0 Print 3,580 $83, 580 rences Other data not yet recorded at December 31 a. Rent expired during the year, $1.290. b. Depreciation expense for the year. $1,090. c. Utilities used and unpaid, $9.900. d. Income tax expense, $480. b. Depreciation expense for the year, $1,090. c Utilities used and unpaid, $9,900. d. Income tax expense, $480. E4-15 Part 4 4. Compute the amount of net income using (a) the preliminary (unadjusted) numbers and (b) the final (adjusted) numbers. Had the adjusting entries not been recorded, would net income have been overstated or understated, and by what amount? Complete this question by entering your answers in the tabs below. Reg 4 Re 48 Compute the amount of net income using (a) the preliminary (unadjusted) numbers, and (b) the final (adjusted numbers. (1) Preliminary Net Income (10) Adjusted Net Income Rea 48 a. Rent expired during the year, $1,290. b. Depreciation expense for the year. $1,090. c. Utilities used and unpaid, $9,900. d. Income tax expense, $480. E4-15 Part 4 4. Compute the amount of net income using (a) the preliminary (unadjusted) numbers and (b) the final (adjusted) numbers. Had adjusting entries not been recorded, would net income have been overstated or understated, and by what amount? Complete this question by entering your answers in the tabs below. Reg 4 Req 48 Had the adjusting entries not been recorded, would net income have been overstated or understated, and by what amount? Net income by