Dorothy Taylor runs an outdoor adventure company called Sandhill Ltd. Her busiest months are June through September, although, if the weather holds, she extends her excursions into October and November. For the month of July, she recorded the following items: 1. She paid $51,000 for employee wages and spent $16,200 on advertising. 2. 3. 4. Customers paid her $173,200 for excursions that took place in July (use Service Revenue account) and $21,500 in deposits for trips scheduled in August and September. She used supplies in July that cost $26,600. She spent $1,532 on the utilities for the office and $3,460 on gas and repairs on the vehicles (use Operating Expenses account). (a) Prepare a statement of income to determine how much Sandhill Ltd. earned in July. Sandhill Ltd. Statement of Income For the Month of July, 2xxx $