Exercise 4-13

The income statement of Sheridan Company for the month of July shows net income of $3,480 based on Service Revenue $7,890, Salaries and Wages Expense $2,860, Supplies Expense $940, and Utilities Expense $610. In reviewing the statement, you discover the following:

1.		Insurance expired during July of $470 was omitted.
2.		Supplies expense includes $410 of supplies that are still on hand at July 31.
3.		Depreciation on equipment of $150 was omitted.
4.		Accrued but unpaid wages at July 31 of $320 were not included.
5.		Services performed but unrecorded totaled $640.

Prepare a correct income statement for July 2017.