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Problem 1-03A al-a3,b1-b2 On June 1, Dorothy Taylor started Sandhill Designs Co., a company that provides craft opportunities, by investing $14,530 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 Accounts Receivable Supplies Equipment Notes Payable Accounts Payable $11,000 Service Revenue 3,200 Advertising Expense 2,200 Rent Expense 11,000 Gasoline Expense 8,800 Utilities Expense 1,400 $6,400 500 1,400 240 190 Dorothy made no additional investment in June but withdrew $1,400 in cash for personal use during the month. Your answer is correct. Prepare an income statement for the month of June. SANDHILL DESIGNS CO. Income Statement For the Month Ended June 30, 2020 Revenues Service Revenue 6400 Expenses Advertising Expense 500 Utilities Expense 190 Gasoline Expense 240 Rent Expense 1400 Total Expenses 2330 Activate Windows Go to Settings to activate Windows, Net Income / (Loss) 4070 Your answer is partially correct. Try again. Prepare an owner's equity statement for the month of June. (List items that increase owner's equity first.) SANDHILL DESIGNS CO. Owner's Equity Statement For the Month Ended June 30, 2020 Owner's Capital, June 1 14530 Add Net Income / (Loss) 4070 Investments 0 4070 18600 Less Drawings -1400 Owner's Capital, June 30 172000 LINK TO TEXT Your answer is correct. Prepare a balance sheet at June 30, 2020. (List Assets in order of liquidity.) SANDHILL DESIGNS CO. Balance Sheet June 30, 2020 Assets Cash 11000 Accounts Receivable 3200 Supplies 2200 Equipment 11000 Total Assets 27400 Liabilities and Owner's Equity Liabilities Notes Payable 8800 Accounts Payable 1400 Total Liabilities 10200 Owner's Equity Owner's Capital 17200 Total Liabilities and Owner's Equity 27400 LINK TO TEXT Activate Windows Go to Settings to activate Windows Your answer is partially correct. Try again. Prepare an income statement for June assuming the following data are not included above: (1) $950 of services were performed and billed but not collected at June 30, and (2) $200 of gasoline expense was incurred but not paid. SANDHILL DESIGNS CO. Income Statement For the Month Ended June 30, 2020 Revenues Service Revenue LINK TO TEXT Your answer is partially correct. Try again. Prepare an owner's equity statement for June assuming the following data are not included above: (1) $950 of revenue was earned and billed but not collected at June 30, and (2) $200 of gasoline expense was incurred but not paid. (List items that increase owner's equity first.) SANDHILL DESIGNS CO. Owner's Equity Statement Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT