Greenway Corporation is organized on June 1, 2016. The company will provide lawn-care and tree-trimming services on a contract basis. Following is an alphabetical list of the items that should appear on its income statement for the first month and on its balance sheet at the end of the first month. (You will need to determine on which statement each should appear.)

Accounts payable	$900	Lawn-care revenue	$1,500
Accounts receivable	500	Notes payable	7,000
Building	2,000	Retained earnings (beginning balance)	0
Capital stock	5,000	Salaries and wages expense	900
Cash	3,400	Tools	800
Gas, utilities, and other expenses	300	Tree-trimming revenue	500
Land	4,000	Truck	3,000

Required:

1.	Prepare an income statement for the month of June.
2.	Prepare a balance sheet at June 30, 2016. Note: You will need to determine the balance in Retained Earnings at the end of the month.
3.	The financial statements you have prepared are helpful, but in many ways, they are just a starting point. Assuming that this is your business, what additional questions do the financial statements raise that you need to consider?