Saved Help Save & 4 Ch Exercise 3-8 Analyzing and preparing adjusting entries LO A1, P1, P3 Following are two income statements for Alexis Co. for the year ended December 31. The left 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. ook ALEXIS CO. Income Statements For Year Ended December 31 nt Unadjusted Adjusted Revenues ences Fees earned $ 24,000 $28,800 42,500 71,300 Commissions earned Total revenues Expenses Depreciation expense Computers Depreciation expense-Office furniture Salaries expense Insurance expense Rent expense office supplies expense Advertising expense Utilities expense 42,500 66,500 1,200 1,400 12,500 14,460 1,040 4,500 4,500 384 3,000 1,250 3,000 1,306 4 of 4