[The following information applies to the questions displayed below.] Val's Hair Emporium operates a hair salon. Its unadjusted trial balance as of December 31, 2021, follows, along with information about selected accounts. Account Names Cash Debit $ 4,200 Credit Supplies 4,700 Prepaid Rent 7,200 Accounts Payable Salaries and Wages Payable Income Tax Payable Common Stock Retained Earnings Service Revenue Salaries and Wages Expense 29,500 Utilities Expense 12,600 Rent Expense Supplies Expense 24,000 5,200 Income Tax Expense 0 Totals $ 87,400 Further Information As reported on December 31 bank statement. Based on count, only $1,500 of supplies still exist. This amount was paid November 1 for rent through the end of January. $1,700 This represents the total amount of bills received for supplies and utilities through December 15. Val estimates that the company has received $490 of utility services through December 31 for which it has not yet been billed. 0 Stylists have not yet been paid $200 for their work on December 31. 2,400 0 The company has paid last year's income taxes but not this year's taxes. 800 This amount was contributed for common stock in prior years. This is the balance reported at the end of last year. 82,500 Customers pay cash when they receive. services. $ 87,400 This is the cost of stylist wages through December 30. This is the cost of utilities through December 15. This year's rent was $2,400 per month. This is the cost of supplies used through November 30. The company has an average tax rate of 30%.