Financial Position The following amounts summarize the financial position of Willis Consulting, Inc. on May 31,2020. (Click the icon to view the May 31, 2020, financial position.) (Click the icon to view the transactions.) Reauirements Requirement 1. Prepare the income statement of Willis Consulting, Inc. for the month ended June 30, 2020. List expenses in decreasing order by amount. Begin by selecting the labels for the income statement heading. Then complete the income statement by selecting the appropriate accounts and entering the amounts into the statement. Remember to list expenses in decreasing order by amount. (Use a minus sign or parentheses for a net loss.) Transactions During June 2020, the business completed these transactions: a. Received cash of $8,600 and issued common shares. b. Performed services for a client and received cash of $6,000. c. Paid $4,300 on accounts payable. d. Purchased supplies on account, $800. e. Collected cash from a customer on account, $800. f. Consulted on the design of a business report, and billed the client for services rendered, $2,100. g. Recorded the following business expenses for the month: paid office rent, $1,000; paid advertising, $900. h. Declared and paid a cash dividend of $2,300. Requirements 1. Prepare the income statement of Willis Consulting, Inc. for the month ended June 30, 2020. List expenses in decreasing order by amount. 2. Prepare the entity's statement of retained earnings for the month ended June 30, 2020. 3. Prepare the balance sheet of Willis Consulting, Inc. at June 30, 2020