Selected accounts of Ideal Properties Inc., a real estate management firm, are shown below as of January 31, before any adjustments have been made: Unadjusted Account Prepaid insurance Balances $79,920 Supplies 23,160 Office equipment 71,424 Unearned rent revenue 63,000 Salaries expense Rent revenue 37,200 180,000 Monthly financial statements are prepared. Using the Transaction Analysis Template, determine the financial statement effect of the following adjustments as of January 31: a. Prepaid Insurance represents a three-year premium paid on January 1. b. Supplies of $10,200 were on hand January 31. c. Office equipment is expected to last eight years. Depreciation is recorded monthly. d. On January 1, the firm collected six months' rent in advance from a tenant renting space for $10,500 per month. e. Accrued salaries not recorded as of January 31 are $5,880. Note: Use negative signs with answers, when appropriate. Balance Sheet Income Statement Stockholders' Transaction Assets = Liabilities + Equity Revenues - Expenses = Net Income a. Adjustment for prepaid insurance. 0 0 0 0 0 0 b. Adjustment for supplies 0 0 c. Adjustment for office equipment. 0 0 d. Adjustment for rent collected in advance. 0 0 e. Adjustment for accrued salaries. 0 OOOO 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 On January 1, the balance of the Retained Earnings account was $115,200. The company's Common Stock account had an opening balance of $168,000, and $14,400 in new capital contributions were made during the year. During the year, dividends of $23,280 were paid. The income statement shows net income of $71,760. Prepare a statement of stockholders' equity for Strife & Company, architectural design firm. Note: Use a negative sign with your answers for the "Less" amounts. Strife & Company Statement of Stockholders' Equity For Year Ended December 31 Common Stock Retained Earnings Total 0 $ 0 Balance, January 1 $ 0 $ Add: Common Stock Net income 0 0 0 0 0 0 Less: Dividends 0 0 0 Balance, December 31 $ 0 $ 0 $ 0