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business: June 2: Received contributions of $10,000 from each of the three owners of the business in exchange for shares of stock. June 5: Purchased
business: June 2: Received contributions of $10,000 from each of the three owners of the business in exchange for shares of stock. June 5: Purchased a computer system for $12,000. The agreement with the vendor requires a down payment of $2,500 with the balance due in 60 days. June 8: Signed a two-year promissory note at the bank and received cash of $20,000. June 15: Billed $12,350 to clients for the first half of June. Clients are billed twice a month for services performed during the month, and the bills are payable within ten days. June 17: Paid a $900 bill from the local newspaper for advertising for the month of June. June 23: Received the amounts billed to clients for services performed during the first half of the month. June 28: Received and paid gas, electric, and water bills. The total amount is $2,700. June 29: Received the landlord's bill for $2,200 for rent on the office space that Neveranerror leases. The bill is payable by the 10 th of the following month. June 30: Paid salaries and wages for June. The total amount is $5,670. June 30: Billed $18,400 to clients for the second half of June. June 30: Declared and paid dividends in the amount of $6,000. Required: transaction, enter "0". Use the minus sign to indicate decreases. Transactions for the Month of June 2a. Prepare the income statement for the month of June. 2b. Prepare the statement of retained earnings for the month of June. If an amount is zero, enter " 0 ". 2c. Prepare the classitied balance sheet at June 30 . 3. From your reading of the financial statements for the first month, would you consider working at the company? Why? , The company able to generate revenues and control costs. The profit margin was and current ratio was
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