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 $ 4,300 Supplies 4,800 Prepaid Rent 7,500 Accounts Payable Salaries and Wages Payable Income Tax Payable Credit Further Information As reported on December 31 bank statement. Based on count, only $1,550 of supplies still exist. This amount was paid November 1 for rent through the end of January. $ 1,750 This represents the total amount of bills received for supplies and utilities through December 15. Val estimates that the company has received $500 of utility services through December 31 for which it has not yet been billed. 0 Stylists have not yet been paid $100 for their work on December 31. 0 The company has paid last year's income taxes but not this year's taxes. 2,500 This amount was contributed for common stock in prior years. 700 This is the balance reported at the end of last year. 84,250 Customers pay cash when they receive services. This is the cost of stylist wages through December 30. This is the cost of utilities through December 15. This year's rent was $2,500 per month. This is the cost of supplies used through November 30. The company has an average tax rate of 30%. $ 89,200 Common Stock Retained Earnings Service Revenue Salaries and Wages Expense 29,600 Utilities Expense 12,700 Rent Expense Supplies Expense 25,000 5,300 Income Tax Expense 0 Totals $ 89,200 2. Name the five pairs of balance sheet and income statement accounts that require adjustment and indicate the amount of adjustment for each pair. Balance Sheet Account Related Income Statement Account Amount Adjustment (1) (2) (3) (4) (5) Supplies Prepaid Rent Salaries and Wages Payable Accounts Payable Income Tax Payable Supplies Expense Rent Expense Salaries and Wages Expense Utilities Expense Income Tax Expense 100