Ayayai Travel Court was organized on July 1, 2021, by Sarah Allen. Sarah is a good manager but a poor accountant. From the unadjusted tabular summary, Sarah prepared the following income statement for her fourth quarter, which ended June 30,2022. Sarah suspected that something was wrong with the statement because net income had never exceeded $37,200 in any one quarter. Knowing that you are an experienced accountant, she asks you to review the income statement and other data. You first look at the tabular summary. In addition to the account balances reported above in the income statement, it contains the following additional selected balances at June 30,2022. You then make inquiries and discover the following. 1. Ayayai rental revenues include advanced rental payments received for summer occupancy, in the amount of $47,880. 2. There were $1,512 of supplies on hand at June 30 . 3. Prepaid insurance resulted from the payment of a 1-year policy on April 1, 2022. 4. The mail in July 2022 brought the following bills: advertising for the week of June 24,$92; repairs made June 18, $3,738; and utilities for the month of June, $180. 5. Wage expense is $252 per day. At June 30,4 days' wages have been incurred but not paid. 6. The note payable is a 6% note dated May 1, 2022 , and due on July 31,2022. 7. Income tax of $11,256 for the quarter is due in July but has not yet been recorded. Prepare a correct income statement for the quarter ended June 30, 2022. Ayayai Travel Court Income Statement For the Quarter Ended June 30, 2022 Revenues Rent Revenue Revenues Rent Revenue Unearned Rent Revenue Supplies Expense Insurance Expense Prepaid Insurance Advertising Expense Maintenance and Repairs Expense Utilities Expense List of Accounts Save for Later Last saved 2 days ago. Attempts: 1 of 3 used Submit Answer Saved work will be auto-submitted on the due date. Autosubmission can take up to 10 minutes