i Reference Wilson Towing Service Statement of Retained Earnings Month Ended June 30, 2018 Retained Earnings, June 1, 2018 3,250 11,700 Net income for the month Dividends 14,950 (3,500) 11,450 Retained Earnings, June 30, 2018 $ Print Done HUIUICILE The account balances and select financial statements of Wilson Towing Service at June 30, 2018, follow: (Click the icon to view the account balances.) 5 (Click the icon to view the income statement for the month.) (Click the icon to view the statement of retained earnings for the month.) Requirements 1. Prepare the balance sheet for Wilson Towing Service as of June 30, 2018. 2. What does the balance sheet report? Wilson Towing Service Income Statement Month Ended June 30, 2018 $ 15,000 Requirement 1. Prepare the balance sheet for Wilson Towing Service as of June 30, 2018. (If a box is not used in the table leave the box empty; do not select a label or enter a zero Revenues: Service Revenue Expenses: Salaries Expense 2,400 900 Rent Expense Total Expenses 3,300 Assets Liabilities 11,700 Net Income * Data Table Print Done Stockholders' Equity $ Equipment Office Supplies Notes Payable Rent Expense 25,850 Service Revenue 1,000 Accounts Receivable 6,800 Accounts Payable 900 Retained Earnings, June 1, 2018 1,400 Salaries Expense 3,500 Common Stock 15,000 9,000 8,000 3,250 2,400 11,000 Cash Requirement 2. What does the balance sheet report? Dividends The balance sheet reports Print Done on an entity's assets, liabilities, and stockholders' equity as of a specific date. on an entity's assets, liabilities, and stockholders' equity for a period of time. revenues and expenses as of a specific date. revenues and expenses for a period of time. the changes in retained earnings for a business entity as of a specific date. the changes in retained earnings for a business entity during a time period. Choose from any list or enurun II T P I wonin H W UL VIVU I MIEI VUELTUU W LIV FUA YUUULUI