4-a Prepare the adjusted net income that the company should report for the year ended December 31, 2018.

4-b By what dollar amount did the adjustments cause net income to increase or decrease?

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. Credit Account Names Cash Supplies Prepaid Rent Debit $ 3,200 3,700 4,200 Accounts Payable $ 1,200 @ Salaries and Wages Payable Income Tax Payable 3 Further Information As reported on December 31 bank statement. Based on count, only $1,000 of supplies still exist. This amount was paid November 1 for rent through the end of January This represents the total amount of bills received for supplies and utilities through December 15. Val estimates that the company has received $390 of utility services through December 31 for which it has not yet been billed. Stylists have not yet been paid $200 for their work on December 31. The company has paid last year's income taxes but not this year's taxes. This amount was contributed for common stock in prior years. This is the balance reported at the end of last year. 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 $1,400 per month This is the cost of supplies used through November 30. The company has an average tax rate of 30%. Common Stock 1,400 800 66, eee 28,500 Retained Earnings Service Revenue Salaries and Wages Expense Utilities Expense Rent Expense Supplies Expense Income Tax Expense Totals 11,680 14,000 4,200 $69,400 $69,400 4.a. Prepare the adjusted net income that the company should report for the year ended December 31, 2018 4-b. By what dollar amount did the adjustments in requirement (3) couse net income to increase or decrease? er 4 Homework Algo) Required information of 4 Req 4A Req 4B Prepare the adjusted net that the company should report fort VALS HAIR EMPORIUM Income Statement rint 4-a. Prepare the adjusted net income that the company should report for the year ended December 31, 201 4-b. By what dollar amount did the adjustments in requirement (3) cause net income to increase or decreas Complete this question by entering your answers in the tabs below. Req 4A Reg 4B By what dollar amount did the adjustments in requirement (3) cause net income to increase or decrease? Net income by