The Sweet Theater is nearing the end of the year and is preparing for a meeting with its bankers to discuss the renewal of a loan. The accounts listed below appeared in the December 31, 2020, trial balance. Credit $ Debit 6,330 176,000 Prepaid Advertising Equipment Accumulated Depreciation-Equipment Notes Payable Unearned Service Revenue Ticket Revenue Advertising Expense Salaries and Wages Expense Interest Expense $ 58,500 96,000 16,500 374,300 17,460 65,200 1,380 Additional information is available as follows. 1. The equipment has an estimated useful life of 16 years and a salvage value of $40,000 at the end of that time. Sweet uses the straight-line method for depreciation. 1. The equipment has an estimated useful life of 16 years and a salvage value of $40,000 at the end of that time. Sweet uses the straight-line method for depreciation. 2. The note payable is a one-year note given to the bank January 31 and bearing interest at 10%. Interest is calculated on a monthly basis. 3. Late in December 2020, the theater sold 330 coupon ticket books at $50 each. 170 of these ticket books books have been used by year- end. The cash received was recorded as Unearned Service Revenue. 4. Advertising paid in advance was $6,330 and was debited to Prepaid Advertising. The company has used $2,730 of the advertising as of December 31, 2020. 5. Salaries and wages accrued but unpaid at December 31, 2020, were $3,540. Determine Sweet's income before and after recording the adjusting entries. (Enter loss using either a negative sign preceding the number -45 or parentheses e.g. (45).) Income before Adjustments Income after Adjustments Ticket Revenue $ ta Less : Advertising Expense Salaries and Wages Expense Interest Expense Depreciation Expense Net Income /(Loss) $ $