The income statement of Garska Co. for the month of July shows net income of $2,000 based on Service Revenue $5,500; Salaries and Wages Expense $2,100; Supplies Expense $900;

and Utilities Expense $500. In reviewing the statement, you discover the following:

1 Insurance expired during July of $350 was omitted.

2 Supplies expense includes $200 of supplies that are still on hand at July 31.

3 Depreciation on equipment of $150 was omitted.

4 Accrued but unpaid wages at July 31 of $360 were not included.

5 Services performed but unrecorded totaled $700.

Instructions Prepare a correct income statement for July 2014.

AppendixLO1