On June 1, Betty Harris started Cullumber Designs Co., a company that provides craft opportunities, by investing $12,450 cash in the business. Following are the assets and liabilities of the company at June 30 and the revenues and expenses for the month of June. Cash $11,000 Service Revenue $6,700 3,200 Accounts Receivable 400 Advertising Expense Supplies 1,800 Rent Expense 1,600 Equipment 10,000 Gasoline Expense 200 Notes Payable 9,300 Utilities Expense 150 Accounts Payable 1,200 Betty made no additional investment in June but withdrew $1,300 in cash for personal use during the month. CULLUMBER DESIGNS CO. Income Statement For the Month Ended June 30, 2020 v Revenues X Service Revenue 6,700 Expenses Advertising Expense 400 Rent Expense 1,600 > Gasoline Expense 200 Utilities Expense 150 Total Expenses 2,350 Net Income / (Loss) 4,350 897 OCT 2 16 Prepare an owner's equity statement for the month of June. (List Items that Inc CULLUMBER DESIGNS CO. Owner's Equity Statement For the Month Ended June 30, 2020 v Owner's Capital, June 1 11,000 w Add > Investments 12,450 Net Income / (Loss) 4,350 4,350 15,350 Less Drawings (1,300) X Owner's Capital, June 30 v 14,050: SHOW LIST OF ACCOUNTS SHOW SOLUTION ent CULLUMBER DESIGNS CO. Balance Sheet June 30, 2020 Assets Cash 11,000 $ Accounts Receivable 3,200