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In the video tutorial, adjustments for Deals PLC's income statement are discussed. Key adjustments include adding an accrual for distribution wages of £1,798 to distribution expenses, increasing it from £14,000. Rent paid in advance of £625 results in deducting £2,625 from administrative expenses that total £54,902. Outstanding bank interest for the last six months is calculated based on a 10% loan of £25,000, resulting in an annual interest of £2,500. Additionally, the corporation tax expense for years 1-4 is noted as £729. These adjustments are essential for accurately reflecting the company's financial position.