General Journal
Date	Description(Account Name)			Debit	Credit
07/01/17	Cash			90,000
	Common Stock				90,000
07/03/17	Rent Expense			5,500
	Cash				5,500
07/05/17	Prepaid Insurance			4,800
	Cash				4,800
07/07/17	Supplies			900
	Accounts Payable				900
07/10/17	Salaries Expense			3,300
	Cash				3,300
07/14/17	Equipment			11,500
	Cash				1,500
	Accounts Payable				10,000
07/15/17	Cash			7,700
	Revenue				7,700
07/19/17	Accounts Payable			500
	Cash				500
07/31/17	Cash			8,505
	Revenue				8,505
07/31/17	Dividends			600
	Cash				600
				133,305	133,305

Question:

Prepare the financial statements for the Melvin Plumbing Corporation as of July 31 in the space below.
You will only be preparing the income statement, statement of retained earnings, and the balance sheet.
The statement of cash flows is a required financial statement, but is not required for this case study.
Melvin Plumbing Corporation				Melvin Plumbing Corporation			Melvin Plumbing Corporation
Income Statement				Statement of Retained Earnings			Balance Sheet
For the Month Ending July 31				For the Month Ending July 31			July 31
Revenues:				Retained Earnings, July 1			Assets:
Revenue				Add: Net Income			Cash
				Subtotal			Supplies
Expenses:				Less: Dividends			Prepaid Insurance
Rent Expense				Retained Earnings, July 31			Equipment
Salaries Expense							Less: Accum. Depr.
Insurance Expense							Total Assets
Supplies Expense
Depreciation Expense							Liabilities:
Income Tax Expense							Accounts Payable
Total Expenses							Income Tax Payable
							Total Liabilities
Net Income							Stockholders' Equity:
							Common Stock
							Retained Earnings
							Total Stockholders' Equity
							Total Liabilities and
							Stockholders' Equity