financial statements and journal entries.

Use the Adjusted Trial Balance below for the Year Ended April 30, 2020 to complete the Income Statement, Statement of Stockholder's Equity, and Balance Sheet. Statement formats are included on the Exam 2 format document. M4 Engineering. Inc. Using the chart of accounts provided on page 2 of the Exam 2 format document, journalize the following transactions for the month of June. Proper journal formatting is required. Not all accounts provided in the chart of accounts will be used. 1 Transferred cash from a personal bank account in exchange for stock, $50,000 2 Purchased $10,000 of merchandise inventory by issuing a 90 day, 12% interest paying note. 3 Paid cash for three months insurance in advance, $3,000 At the end of June, the following adjustment data were assembled. 30 Insurance expired during June is $1,000 30 The unadjusted trial balance indicates Unearned Fees of $3,000. However, only $500 of the balance remains unearned. Journal Entries (12 points) Expenses: Note: No stock was issued