The controller for Reykjavik Company is concerned about certain business transactions that the company experienced during 20X3. The controller, after discussing these matters with various individuals, has come to you for advice. The transactions at issue are attached. REQUIRED: (1) (2) Assume that Reykjavik Corporation reported net income of $1,000,000 for 20X3. Using the attached form, present a schedule showing the corrected net income after reviewing the attached transactions. Using the attached form, prepare the general journal entries, in proper form, to record the effects of the attached items, assuming that the books have been closed for the current year, 20X3. Omit explanations. Use the number of the transaction as the transaction date.