Use the following to answer questions 15 - 16 On November 1st, the company pays a local radio station $15,000 for 6 months of radio ads that are to be aired equally throughout the six months. Prepaid Advertising was debited on November 1 st and no other entries regarding this transaction were made since then. 15. $ After the adjusting entry has been recorded on December 31st, determine the amount of advertising expense for the year ended December 31st. 16. $ After the adjusting entry has been recorded on December 31st, determine the ending balance in the prepaid advertising account that should be recorded on the December 31st Balance Sheet. 23. S Determine ending total stockholders' equity for the year 24. $ Determine total Current Assets at the end of the year 25. S Determine Total Assets at the end of the year 26. Should Common stock be closed at year end? Use the following transactions to answer questions 17 19 Determine the amount of revenue or expense that would be reported at the time of the transaction under the two methods. An example transaction has been completed for you. Example: Purchased office supplies for cash, $440 The company incurs employee salaries of $30,000 for the last week of December which will be paid on January 5 th. 13. Record the adjusting entry on December 31st related to the employee salaries 14. $ Indicate by how much net income in the income statement is higher or lower if the adjustment in \#13 is not recorded (if lower put "-" in front of your answer)