resented in the bar charts are three columns for each of the first three years of a company's operations. The three columns represent mounts reported at the end of each year - net income (left), dividends (middle), and retained earnings (right). Examine the graphs and nswer the following questions. Consider the following situations for Shocker: 1. On November 28,2024 , Shocker received a $2,850 payment from a customer for services to be rendered evenly over the next three months. Deferred Revenue was credited on November 28. 2. On December 1,2024 , the company paid a local radio station $2,370 for 30 radio ads that were to be aired, 10 per month, throughout December, January, and February. Prepaid Advertising was debited on December 1. 3. Employee salaries for the month of December totaling $6,900 will be paid on January 7, 2025. 4. On August 31,2024 , Shocker borrowed $59,000 from a local bank. A note was signed with principal and 6% interest to be paid on August 31, 2025. Required: Indicate by how much the assets, liabilities, and stockholders' equity in the December 31, 2024, balance sheet is higher or lower if the adjusting entry is not recorded. (If none of the categories apply for a particular item, leave the cell blank.) Click here to open the graph(s) in a new tab
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