Required information [The following information applies to the questions displayed below. Val's 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 $ 2,900 3,400 3,300 Credit Further Information As reported on December 31 bank statement. Based on count, only $850 of supplies still exist. This amount was paid November 1 "for rent through the end of January This represents supplies and utilities through December 15. Val estinates that the company has received $360 of utility services through December 31 for which it has not yet been billed. Stylists have not yet been paid $200 for their vork on December 31. The company has paid last year's income taxes but not this year's taxes. This anount was contributed for common atock in prior years. This is the balance reported at the end of last year. Customers pay cash when they receive services. Cash Supplies Prepaid Rent Accounts Payable $1,050 total anount of bills received for the Salaries and Wages Payable Income Tax Payable 0 Common Stock 1,100 800 61,050 Retained Earnings Service Revenue Salaries and Wages en Utilities Expense Rent Expense 28,200 This is the cost of stylist wages through December 30. This is the cost of utilities through December 15. This year's rent was $1,100 per month. This is the cost of supplies used through November 30. The company has an average tax rate of 25%. 11,300 11,000 3,900 Supplies Expense Income Tax Expense $64,000 $64,000 Totals Required: 1. Prepare the (preliminary) unadjusted net income statement for the year ended December 31, 2018. Next > of 8 2 3 4