CALCULATO. STAMDAAD VIrw P|rTER VERSO- 'BACK ) Question 3 Roadside Travel Court was organizsed on July 1, 2016, by Betty Johnion, netty is a cod manager but a poor acountant. Prom the trial balance prepared by a part-time bootkeeper, Betty prepared the following income statement for her fourth quarter, which ended June 30, 2017 ROADSIDE TRAVEL COURT Income Statement For the Quarter Ended June 30, 2017 Rent revenue 211,600 Operating expenses Advertising expense Salaries and wages expense Ublities expense 3,940 82,725 950 2,825 4,445 Maintenance and repairs expen Total operating expenses Net income 94,885 116,715 tetty suspected thet something was wrong with the statement because net income had never eaceed $30,000 n any one quarter review the income statement and other data accountant, the auks you t Knowing that you are an experienced at Jue 30, 2017 You first loak at the triai balance. in addtion to the account balances reported Supplies Prepaid Insurance Notes Payable in then ncome eatement, the triw balance contains the follewing aditional selected balances 8,845 14,400 14,000 You then make inquiries and discover the following 1. 0edsde rentals revenesindude advanced rental payments roceived for turnmr 2. There were $1,840 of supplies on hand at June 30 . Prepaid insurance resulted from the peyment of a one-year polcy on 01 4. The mail in July 2017 brought the folowing bills: advertising for the w fne 24 $340 r 5. Wages expense is s305 per day At June 30, four days wages have heen ired but opa 6. The note payable is a 6% note dated May 1, 2017, and due on her 3.2017 7. Income tax of $14,095 for the quarter is due in July but has not yer been s tount of $57,870 mde une 18,4,0 d une 18,54,060 an ttes for the meth of ne,822 e ccounting (ACCT 300/301/303 BACK Prepare any adjusting journal entries required at June 30, 2017. (rr no entry is required, pelea-Ne Entryforthe account emer sdente o automatically Indented when the amount is entered. Do not indent manually.) ne No. Account Titles and Explanation Debit 2. 3. s. 6 Prepare a correct income statement for the quarter ended June 30, 2017 ROADSIDE TRAVEL COURT Income Statement Click if you would like to Show Work for this question: Open Show Work