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 $ 3,500 Supplies 4,000 5,100 Prepaid Rent Accounts Payable Salaries and Wages Payable Credit Further Information As reported on December 31 bank statement. Based on count, only $1,150 of supplies still exist. This amount was paid November 1 for rent through the end of January. $ 1,350 This represents the total amount of billa received for supplies and utilities through December 15. Val estimates that the company has received $420 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. 0 The company has paid last year's income taxes but not this year's taxes. 1,700 This amount was contributed for common stock in prior years. 800 This is the balance reported at the end of last year. 70,950 Customers pay cash when they receive services This is the cost of stylist wages through December 30. This is the cost of utilities through Income Tax Payable Common Stock Retained Earnings Service Revenue Salaries and Wages Expense 28,800 11,900 Utilities Expense Utilities Expense 11,900 Rent Expense Supplies Expense 17,000 4,500 This is the cost of utilities through December 15. This year's rent was $1,700 per month. This is the cost of supplies used through November 30. The company has an average tax rate of 25. Income Tax Expense 0 Totals $ 74,800 $ 74,800 VAL'S HAIR EMPORIUM Income Statement For the Year Ended December 31, 2021 Revenues Service Revenue $ 70,950 Total Revenues 70,950 20,400 7,350 Expenses Rent Expense Supplies Expense Salaries and Wages Expense Income Tax Expense 29,000 470 Total Expenses 57,220 $ 10,650 X Net Income By what dollar amount did the adjustments in requirement (3) cause net income to increase or decrease? Net income by