Prepare a balance sheet as at the end of June, and an income statement for the month of June.

10 12 06/10 06/15 06/27 06/30 Activi I Of S I OO par each common stock in euhange for cash. You sign a for Space pay the first month s rot of S I .200. You also pay a dem"it Of S3.600 tha: is fundablc at Of the Y Ou office equipment in the of in cash. Thc cquiEt has an estimated life or and no salvage value. Depreciation is recognized monthly. and the firm applies Straightline depreciation to its You also S 140 Of omce supplies such as etc. in cash. supplies arc an expense and expensed immediately). You 'My cash for internet and newspaper advertising. This is considered advertising and is expensed immediately. You pay S 12. OOO cash to a website for work completed. Consider this to bC an immediate 3SO customers sign up for a subscription to your monthly webpublication, Ehor-se News. A subscription costs SISO annually. Each customer pays cash for a full year's subscription upfront. The publication for the Will be delivered on You cash from a bank. Interest is payable every days at an annual rate Of principal is due in three years. (For assume the loan is outstanding for only 15 days in June and a year 360 days) A local publisher produces 5,000 of your racetrack booklets at a Cost of S I .20 each and delivers them to you. You agree to pay the publisher in 30 days. The txx'klets are considered inventory. You ship the racetrack booklets to a local racetrack and pay an $80 delivery fee (an expense). ne racetrack sells 4,300 booklets for you. Each booklet is sold for S4. The remaining 700 booklets are considered worthless and are destroyed that same day. The racetrack agrees to pay you cash on 07/03. You pay S wages for work completed by a part-time Office cssistant during the month Of June. The publication of Ehorse News for the first month is del Wered electronically on 06/30.