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On June 1, Debra King started Cullumber Designs Co, a company that provides craft opportunities, by investing $11,570 cash in the business. Following are the assets and liabilities of the company at June 30 and the revenues and expenses for the month of June. Cash $10,000 Service Revenue $7.100 Accounts Receivable 3.000 500 Advertising Expense Rent Expense Supplies 1.800 1.700 Equipment 10,000 Gasoline Expense 210 Notes Payable 8,700 Utilities Expense 160 Accounts Payable 1.400 Debra made no additional investment in June but withdrew $1,400 in cash for personal use during the month Prepare an income statement for the month of June. CULLUMBER DESIGNS CO. Income Statement For the Month Ended June 30, 2022 Revenues Service Revenue 7.100 Expenses Advertising Expense 500 Hent Expense 1.700 Gasoline Expense 210 Utilities Expo 160 Total Expenses 2,570 Neincome to 4530 Prepare an owner's equity statement for the month of June. (List items that increase owner's equity first.) CULLUMBER DESIGNS CO. Owner's Equity Statement For the Month Ended June 30, 2022 Owner's Capital, June 1 A Add : Investments 11,570 Net Income /(Loss) 4,530 16,100 16,100 Less Drawings 1.400 Owner's Capital, June 30 14,700 e Tether Prepare a balance sheet at June 30, 2022. (List Assets in order of liquidity.) CULLUMBER DESIGNS CO. Balance Sheet June 30, 2022 Assets Cash $ 10,000 Accounts Receivable 3,000 Supplies 1,800 Equipment 10,000 Total Assets $ 24,800 Liabilities and Owner's Equity Liabilities Accounts Payable 1,400 Notes Payable 8.700 Total Liabilities 10.100 Cash $ 10,000 Accounts Receivable 3,000 Supplies 1.800 Equipment 10,000 Total Assets $ 4.800 Liabilities and Owner's Equity Liabilities Accounts Payable $ 1,400 Notes Payable 8,700 Total Liabilities 10,100 Owner's Equity Owner's Capital 14,700 Total Liabilities and Owner's Equity 24.800 Prepare an income statement for June assuming the following data are not included above: (1) $750 of services were performed and billed but not collected at June 30, and (2) $200 of gasoline expense was incurred but not paid. CULLUMBER DESIGNS CO. Income Statement For the Month Ended June 30, 2022 Revenues Service Revenue 7,850 Expenses Advertising Expense $ 500 Utilities Expense 160 Rent Expense 1,700 Gasoline Expense 410 Total Expenses 2.770 Het income/ (Loss) 5.080 Prepare an owner's equity statement for June assuming the following data are not included above: (1) $750 of services were performed and billed but not collected at June 30, and (2) $200 of gasoline expense was incurred but not paid. (List items that increase owner's equity first.) CULLUMBER DESIGNS CO. Owner's Equity Statement For the Month Ended June 30, 2022 Owner's Capital, June 1 Add Net Income / (Loss) $ Investments Less Drawings Owner's Capital, June 30