Bridgeport travel court organized on July 1, 2021, by Barbara Jones. Barbara is a good manager but a poor accountant. from the unadjusted tabular summery. Barbara prepared the following income statement for her fourth quarter, which ended June 30, 2022.

Prepare a Correct income statement for the quarter ended June 30, 2022

Bridgeport Travel Court was organized on July 1,2021 , by Barbara Jones. Barbara is a good manager but a poor accountant. From the unadjusted tabular summary, Barbara prepared the following income statement for her fourth quarter, which ended June 30,2022. Barbara suspected that something was wrong with the statement because net income had never exceeded $25,800 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. Bridgeport rental revenues include advanced rental payments received for summer occupancy, in the amount of $26,220. 2. There were $828 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,$54; repairs made June 18, $2, 047; and utilities for the month of June, $104. 5. Wage expense is $138 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 $6,164 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. Bridgeport Travel Court Income Statement $ $ $