Journal Entries, Trial Balance, and Financial Statements (Appendix) Required: 1. Prepare journal entries on the books of Neveranerror Inc. to record the transactions entered into during the month. Ignore depreciation expense and interest expense. June 2: Received contributions of $9,650 from each of the three owners of the business in exchange for shares of stock. June 8: Signed a two-year promissory note at the bank and received cash of $18,300. June 17: Paid a $860 bill from the local newspaper for advertising for the month of June. June 23: Received the amounts billed to clients for services performed during the first half of the month. June 28: Received and paid gas, electric, and water bills. The total amount is $2,900. June 30: Paid salaries and wages for June. The total amount is $5,580. June 30: Billed $19,000 to clients for the second half of June. June 30: Declared and paid dividends in the amount of $7,470. 2. Prepare a trial balance at June 30 . If an amount box does not require an entry, leave it blank. Neveranerror Inc. Trial Balance June 30 Debits Credits 3a. Prepare the income statement for the month of June. 3b. Prepare the statement of retained earnings for the month of June. If an amount is zero, enter " 0 ". 3c. Prepare the classified balance sheet at June 30 . 4. From your reading of the financial statements for the first month, would you consider working at the company? Why? The company able to generate revenues and control costs. The profit margin was and current ratio was