Using the adjustment data listed in P3-2 for SLO Health Care, indicate the effects of each adjustment on the liquidity metric Quick Assets and the profitability metric Net Income – Accrual Basis.

Data from P3-2

Adjustment data for SLO Health Care Inc. for January are as follows:

1. Insurance expired, $450.

2. Supplies on hand on January 31, $600.

3. Depreciation on building, $1,150.

4. Unearned rent revenue earned, $1,500.

5. Wages owed employees but not paid, $1,450.

6. Services provided but not billed to patients, $2,500.