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On June 1, 2017, Bramble Corp. was started with an initial investment in the company of $22,500 cash. Here are the assets, liabilities, and common

On June 1, 2017, Bramble Corp. was started with an initial investment in the company of $22,500 cash. Here are the assets, liabilities, and common stock of the company at June 30, 2017, and the revenues and expenses for the month of June, its first month of operations:

Cash $ 4,850 Notes payable $12,500
Accounts receivable 4,250 Accounts payable 750
Service revenue 7,750 Supplies expense 1,090
Supplies 2,310 Maintenance and repairs expense 690
Advertising expense 400 Utilities expense 210
Equipment 26,250 Salaries and wages expense 1,650
Common stock 22,500

In June, the company issued no additional stock but paid dividends of $1,800.

Prepare an income statement for the month of June. Prepare a retained earnings statement for the month of June. (List items that increase retained earnings first.) Prepare a balance sheet at June 30, 2017. (List assets in order of liquidity.)

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