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Thank you!! On December 31,2025 , Grouper Company prepared an income statement and balance sheet, but failed to take into account three adjusting entries The
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On December 31,2025 , Grouper Company prepared an income statement and balance sheet, but failed to take into account three adjusting entries The balance sheet showed totat assecs $174.000, total riabilities $81.200, and stockholders equity $92.800. The incorrect income statement showed net income of $81,200. The data for the three adjusting entries were: 1. Salaries and wages amounting to $11,600 for the last 2 days in December were hot paid and not recorded. The next payrell will be in Jantary 2. Rent payments of $9,280 was received for two montho in advance on December 1. The entire amount wais credited to Unearned Rent Revenue when paid. 3. Depreciation expense for 2025 is $10.440. Complete the following table to correct the financial statement amounts shown (indicate deductions with parentheses). (Enter negotive amounts uaing either a negative sign precedirg the number eg. -45or parentheceseg (45)] Step by Step Solution
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