Exercise 3-10 The income statement of Pharoah Company for the month of July shows net income of $2,200 based on Service Revenue $6,100, Salaries and Wages Expense $2,300, Supplies Expense $1,000, and Utilities Expense $600. In reviewing the statement, you discover the following 1. 2. 3. Insurance expired during July of $300 was omitted. Supplies expense includes $150 of supplies that are still on hand at July 31. Depreciation on equipment of $250 was omitted. Accrued but unpaid salaries and wages at July 31 of $400 were not included. Services performed but unrecorded totaled $800. 4 5. Prepare a correct income statement for July 2020. Pharoah Company Income Statement