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[The following information applies to the questions displayed below.]

Vals Hair Emporium operates a hair salon. Its unadjusted trial balance as of December 31, 2018, follows, along with information about selected accounts.

Account Names	Debit				Credit				Further Information
Cash	$	4,200							As reported on December 31 bank statement.
Supplies		4,700							Based on count, only $1,500 of supplies still exist.
Prepaid Rent		7,200							This amount was paid November 1 for rent through the end of January.
Accounts Payable					$	1,700			This represents the total amount of bills received for supplies and utilities through December 15. Val estimates that the company has received $490 of utility services through December 31 for which it has not yet been billed.
Salaries and Wages Payable						0			Stylists have not yet been paid $200 for their work on December 31.
Income Tax Payable						0			The company has paid last years income taxes but not this years taxes.
Common Stock						2,400			This amount was contributed for common stock in prior years.
Retained Earnings						800			This is the balance reported at the end of last year.
Service Revenue						82,500			Customers pay cash when they receive services.
Salaries and Wages Expense		29,500							This is the cost of stylist wages through December 30.
Utilities Expense		12,600							This is the cost of utilities through December 15.
Rent Expense		24,000							This years rent was $2,400 per month.
Supplies Expense		5,200							This is the cost of supplies used through November 30.
Income Tax Expense		0							The company has an average tax rate of 30%.
Totals	$	87,400			$	87,400