ADAMS TRAVEL Income Statement For Month Ended April 30 month. April 2 Adams invested $42,000 cash and computer equipment worth $13,800 in the company in exchange for its common stock. April 3 The company rented furnished office space by paying $2,200 cash for the first month's (April) rent. April 4 The company purchased $2,000 of office supplies for cash. April 10 The company paid \$3,240 cash for a 12-month insurance policy. Coverage begins on April 11 . April 14 The company paid $2,100 cash for two weeks' salaries earned by employees. April 24 The company collected $16,000 cash for commissions revenue. April 28 The company paid $2,100 cash for two weeks' salaries earned by employees. April 29 The company paid $800 cash for minor repairs to computer equipment. April 30 The company paid $600 cash for this month's telephone bill. April 30 The company paid $2,100 cash in dividends. Information for month-end adjustments follows: a. Prepaid insurance of $180 expired this month. b. At the end of the month, $800 of office supplies are still available. c. This month's depreciation on computer equipment is $230. d. Employees earned $840 of unpaid and unrecorded salaries as of month-end. e. The company earned $1,770 of commissions revenue that is not yet recorded at month-end. \begin{tabular}{|l|l|} \hline \multicolumn{2}{|c|}{ ADAMS TRAVEL } \\ \hline \multicolumn{1}{|c|}{ Statement of Retained Earnings } \\ \hline \multicolumn{1}{|c|}{ For Month Ended April 30 } \\ \hline Retained earnings, April 1 & $ \\ \hline & \\ \hline & \\ \hline Less: Dividends & (2,100) \\ \hline & $ \\ \hline Retained earnings, April 30 & 39,900 \\ \hline \end{tabular}