Current Attempt in Progress The income statement of Ivanhoe Company for the month of July shows net income of $3,250 based on Service Revenue $7,050, Salaries and Wages Expense $2,140, Supplies Expense $920, and Utilities Expense $740. In reviewing the statement, you discover the following: 1. 2. 3. 4. 5. Insurance expired during July of $380 was omitted. Supplies expense includes $240 of supplies that are still on hand at July 31. Depreciation on equipment of $170 was omitted. Accrued but unpaid wages at July 31 of $400 were not included. Service performed but unrecorded totaled $720. Prepare a correct income statement for July 2017 IVANHOE COMPANY Income Statement