1) Prepare a Trial Balance

2) Prepare the income statement (single step) and a retained earnings statement for July and a classified balance sheet at July 31.

(Tot. assets $21,500)

July 1 Issued 12,000 shares of common stock for $12,000 cash. Purchased used truck for $8,000, paying $2,000 cash and the balance on account 3 Purchased cleaning supplies for $900 on account 5 Paid $1,800 cash on 1-year insurance policy effective July 1. 12 Billet customers $3,700 for cleaning services. d 18 Paid $1,000 cash on amount owed on truck and $500 on amount owed on cleaning supplies 20 Paid $2,000 cash for employee salaries. 21 Collected $1,600 cash from customers billed on July 12. 25 d customers $2,500 for cleaning services. Billet 31 Paid $290 for maintenance of the truck during month. 31 Declared and paid $600 cash dividend