Vals hair emporium operates a hair salon. Its on adjusted trial balance as of December 31, 2018, follows, along with information about selected accounts.

Required information 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, 2018, follows, along with information about selected accounts. s 4,600 5,100 8,400 As reported on Deceaber 31 bank statement Based on count, only $1,700 of supplies still exist. This anount vas paid Novenber 1 for reat through the end of January Supplies Prepaid Rent Accounts Payable 1,900 This represents the total amount of bills received for supplies and utilities through December 15. Val estimates that the company has received $530 ot utslity services through December 31 for which it has not yet been billed. Stylists have not yet been paid $100 for their vork on Salaries and Wages Payable Income Tax Payable December 31 0 The company has paid last year's income taxes but sot this Common Stock 2,800 This anount vas contribated for common stock in prior 700 This is the balance reported at the end of last year. Service Revenue Salaries and Wages 89,200 Custoners pay cash when they receive services 29,900 utilities Expense Rent Expense Supplies Expense Incone Tax Expense This is the cost of atylist wages through December 30. This is the cost of utilities through Deceaber 15. This year's rent vas $2,800 per month. This ia the cost of supplies used through November 30. 28,000 5, 600 0 The company has an average tax rate ot 30s. Totals $94,600 $94,600 quired: Prepare the (preliminary) unadjusted net income statement for the year ended December 31, 2018 sted Income MacBook Pro 8 6