The account balances for the Pittman International Company on January 31,201, follow. The balances shown are after the first mon of operations. Adjustments: a. Supplies used during the month amounted to $1,050. b. The amount in the Prepaid insurance account represents a payment made on January 1, 20x1, for six months of insurance coverage. c. The equipment, purchased on January 1, 20X1, has an estimated useful life of 10 years with no salvage value. The firm uses the straight-line method of depreciation. Required: 3. Complete the worksheet: 4. Prepare an income statement, statement of owner's equity, and balance sheet. 5. Record the balances in the selected general ledger accounts, then journalize and post the adjusting entries. Analyze: If the useful life of the equipment had been 12 years instead of 10 years, how would net income have been affected? PITTMAN INTERNATIONAL COMPANY Income Statement Month Ended January 31, 20X1 Req 3 Req 4 Stmt of OE > inalyze: the useful life of the equipment had been 12 years instead of 10 years, how would net income have been affected? Complete this question by entering your answers in the tabs below. Prepare a statement of owner's equity. If the useful life of the equipment had been 12 years instead of 10 years, how would net income have been affected? Complete this question by entering your answers in the tabs below. Prepare a balance sheet. Prepare the adjusting entries for the month ending January 3i, 201. Journal entry worksheet twote: Enter dedits berore credits. the usetul ite of the equipment had been 12 years instead of 10 years, hpw would net income have been attected? Complete this question by entering your answers in the tabs below. Record the balances in the general ledger accounts. Required: 3. Complete the worksheet 4. Prepare an income statement, statement of owner's equity, and balance sheet. 5. Record the balances in the selected general ledger accounts, then journalize and post the adjusting entries. Analyze: If the useful life of the equipment had been 12 years instead of 10 years, how would net income have been affected? Complete this question by entering your answers in the tabs below. If the useful life of the equipment had been 12 years instead of 10 years, how would net income have been affected? (Do no round intermediate calculations. Round your final answer to 2 decimal places.)