Mastery Problem: The Adjusting Process Unadjusted Financial Statements These financial statements were prepared from the unadjusted trial balance. Cole Designs Inc. Income Statement For the Year Ended December 31, 20Y3 Fees eamed $69,400 Wages expense (44,600) Net income $24,800 Cole Designs Inc. Balance Sheet December 31, 20Y3 Assets Accounts receivable Supplies 650 Prepaid insurance 1,600 Office equipment 11,000 Total assets $55,300 Liabilities I fees $10,100 Stockholders Equity