Exercise 3-5 Analyzing and preparing adjusting entries LO P1, P3 Following are two income statements for Alexis Co. for the year ended December 31. The left number column is prepared before any adjusting entries are recorded, and the right column includes the effects of adjusting entries. The company records cash receipts and payments related to unearned and prepaid items in balance sheet accounts. The middle column shows a blank space for each income statement effect of the eight adjusting entries a through g (the balance sheet part of the entries is not shown here) ALEXIS Co. Income Statements For Year Ended December 31 Revenues Fees earned Commissions earned Total revenues $24,ee0 42.500 31,280 42,500 73,700 $66,500 Expenses Depreciation expense-Conputers Depreciation expense-Office furniture Salaries expense Insurance expense Rent expense Office supplies expense Advertising expense Utilities expense Total expenses 12,500 4,500 3,980 250 $45,250 1.880 2,100 15,440 1,560 4,500 576 3,000 du Net income $43,390 Prey ofE Noxt