Inbox (263) - ach X Principles of Acco Hulu | Home X C Samuel Aldrich St X M 55988/mod_resource/content/1/Chapter%203%20Wiley%20Problem%20Set%20C.pdf for any changes in Retained Earnings. (6) From an analysis of the Retained Earnings columns, compute the net income or (b) Net income $4,910 net loss for May P3-2C Samuel Aldrich started his own delivery service, Aldrich Service Inc., on Analyze transactions June 1, 2014. The following transactions occurred during the month of June. and prepare financial statements June 1 Stockholders invested $15,000 cash in the business in exchange for common stock (LO 1, 2), AP 2 Purchased a used van for deliveries for $15,000. Samuel paid $2,000 cash and signed a note payable for the remaining balance. Paid $600 for office rent for the month. 5 Performed $2,400 of services on account 9 Paid $300 in cash dividends. 12 Purchased supplies for $240 on account. 15 Received a cash payment of $750 for services provided on June 5. 17 Received a bill for $200 to cover advertisements in Tri-State News. 20 Received a cash payment of $1,500 for services provided. 23 Made a cash payment of $500 on the note payable. Paid $180 for utilities. Paid for the supplies purchased on account on June 12. Paid $750 for employee salaries. Instructions (a) Show the effects of the previous transactions on the accounting equation using (a) Cash $12,680 the following format. Assume the note payable is to be repaid within the year. 3 Assets Account Beccable + Sus Lumen Liabilities Notes Accounts Payable Paratie Common Stockholders' Equity Metained aming Bexus Date Coat + Dividends Include margin explanations for any changes in Retained Earnings. (h) Net income $2,170 (6) Prepare an income statement for the month of June. der har June 30 2012