The accountant at AppsGeronimo, a technology business, has determined that the following adjustment should be made in the entity' s account for the year ended 30 September using an accrual-based system. a. An annual premium of $3,000 paid to the Insurance Company on 1 January. b. Income earned but not invoiced totaling $18,000 c. Cash received for applications not yet developed of $6,000 d. Equipment depreciation expense of $5,000 e. Unpaid wages and salaries of $2,000 Required: For each item, analyse: 1. The nature of the adjustment that needs to be made! ( 20 points) 2. Whether the profit for the reporting period would have been under or overstated without the adjustment occurring! (5 points)