Required information [The following information applies to the questions displayed below.] Dyer, Inc., completed its first year of operations on December 31, 2018. Because this is the end of the annual accounting period, the company bookkeeper prepared the following preliminary income statement: Income Statement, 2018 Rent Revenue $111,500 Expenses: Salaries and Wages Expense $28,000 Repairs and Maintenance Expense 12,500 Rent Expense 8,500 Utilities Expense. 3,500 Travel Expense 2,500 Total Expenses Income 55,000 $ 56,500 You are an independent CPA hired by the company to audit the firm's accounting systems and financial statements. In your audit, you developed additional data as follows: a. Wages for the last three days of December amounting to $260 were not recorded or paid. b. The $350 telephone bill for December 2018 has not been recorded or paid. c. Depreciation of equipment amounting to $22,500 for 2018 was not recorded. d. Interest of $450 was not recorded on the notes payable by Dyer, Inc. e. The Rental Revenue account includes $3,500 of revenue to be earned in January 2019. f Supplies costing $550 were used during 2018, but this has not yet been recorded. g. The income tax expense for 2018 is $6,500, but it won't actually be paid until 2019. 3 2. Prepare, in proper form, an adjusted income statement for 2018. C Revenues Rent Revenue Answer is not complete. DYER, INC. Income Statement Total Revenues $ 108,000 108,000 Expenses Salaries and Wages Expense 28,260 Repairs and Maintenance Expense 12,500 Depreciation Expense 22,500 Rent Expense 8,500 Utilities Expense 3,850 Travel Expense 2,500 Supplies Expense 550 Interest Expense 450 Income Tax Expense 6,500 Total Expenses 85,610 Net Income Drett 8