Very Good Building Co. is an architectural service firm and uses the accrual basis of accounting. After all transactions are recorded for the month of December, but before any adjustments are made, the unadjusted balances are as follows:

	ASSETS =				LIABILITIES +			STOCKHOLDERS' EQUITY
	Cash	Prepaid Insurance	Supplies	Machinery	Accounts Payable	Unearned Revenue	Notes Payable	Common Stock	Retained Earnings
Unadjusted Balance, Dec. 31	5,000	2,800	800	3,000	1,000	1,800	2,500	800	5,500

The effect of the transactions on the income statement (before any adjustments) are as follows:

12/2: Revenue	$9,000
12/16: Wage Expense	($3,000)

Good Building Co must made adjustments on December 31, 2022 due to the following information:

a) A physical inventory of supplies reveals there are $300 of supplies-on-hand

b) Depreciation on the machine amounted to $50 for the month

c) Architectural services performed but unbilled as of December 31, 2022 amounted to $6,500

d) Employees will be paid on January 13, 2023. Accrued salaries at December 31, 2022 are $3,000

e) $400 of prepaid insurance expired

f) $1,200 of unearned revenue were earned

1. After all adjustments have been made, compute net income for the month ended December 31, 2022.

2. After all adjustments have been made, compute the net book value of the machinery.

3. After all adjustments have been made, compute the amount of total assets that will be reported on the Balance Sheet dated December 31, 2022?

4. After all adjustments have been made, compute the amount of total liabilities that will be reported on the Balance Sheet dated December 31, 2022?

5. After all adjustments have been made, compute Retained Earnings reported on the Balance Sheet dated December 31, 2022?