what is net income AFTER all adjustments and the effect on assests liabiltty and equity (overstated$$$)

Magic Cleaning Services has a fiscal year end of December 31st. It is in its first year of operations. As of December 31, Magic has the following unadjusted trial balance: Account Debit Credit $ 430,900 $158,000 $111,000 $ 90,000 Cash Accounts Receivable Supplies Building Accounts Payable Unearned Service Revenue Common Stock Retained Earnings Service Revenue Wage Expense Rent Expense Utilities Expense Administrative Expense TOTALS $ 45,900 $ 108,000 $ 100,000 -0- $ 619,200 $ 48,600 $ 12,400 $ 6,200 $ 16,000 $ 873,100 $ 873,100 In addition, Magic has not yet adjusted for the following: 1. The building was purchased on March 1 of the current year. It has a 30-year life, 10% salvage value and Magic uses the straight-line method for depreciation 2 On September 1. Magic prepaid $12.400 for 10 months of rent on a warehouse The original entry was recorded as Rent Expense. 3. By December 31st, 30% of the of the services related to the Unearned Revenues had been performed. 4. Wages of $4,600 should be accrued and are scheduled to be paid on January 2. 5. Supplies of $98,000 were still on hand at year end. 6. Based on industry averages, it is estimated that 3% of the accounts receivable will prove to be uncollectible