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III vlor On December 31, 2020 Fashion Nugget Company prepared an income statement and balance...

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III vlor On December 31, 2020 Fashion Nugget Company prepared an income statement and balance sheet and fled to take into account the adjusting entries. The incorrect income statement showed net income of 535.000. The balance shot showed total assets. 5115,000; total abilities, 545 000; and owner's equity, $70,000. The data for the three dusting entries were (1) Depreciation 510.000 was not recorded on equipment (2) Wagen 57000 for the last two days in December were not paid and not recorded. The payroll will be in tary 13) Remt of S12.000 was for two months in advance on December 1. The entire amount was debted to Rent Expense when paid Instructions Complete the followbat correct the firsancial statement amounts shown indicate deduction with part) Net Total Asset Total Labs Owner's Incorrect haline 315.000 $115.000 $45.000 $70.000 Depreciation Wag

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