Michelle Fontaine runs an outdoor adventure company called Call of the Wild Ltd. Her busiest months are June through September, although, if the weather holds, she extends her excursions into October and November. For the month of July, she recorded the following items: she paid $49,860 for employee wages; she spent $14,610 on advertising; people paid her $171,430 for excursions that took place in July; the supplies used in July cost $25,629; the telephone and electricity in the office came to $1,532; and it cost $3,460 for gas and repairs on the vehicles.
Required:
a. Prepare a statement of earnings to determine how much Call of the Wild earned in July.
b. Are there any other costs that might have been incurred in July but were not listed?