Prepare a correct income statement for quarter ended june 30,2022

Sheffield Travel Court was organized on July 1, 2021, by Sandra Robinson. Sandra is a good manager but a poor accountant. From the unadjusted tabular summary, Sandra prepared the following income statement for her fourth quarter, which ended June 30, 2022. SheffieldTravel Court Income Statement For the Quarter Ended June 30, 2022 Revenues Rent revenue $148,400 Operating expenses Advertising expense $ 2,660 Salaries and wages expense 56,350 Utilities expense 630 Depreciation expense 1.890 Maintenance and repairs expense 3,010 Total operating expenses 64,540 Net income $83,860 You first look at the tabular summary. In addition to the account balances reported above in the income statement, it contains the following additional selected balances at June 30, 2022. Supplies $ 5,740 Prepaid Insurance 10,080 Notes Payable 10,100 You then make inquiries and discover the following. Sheffield rental revenues include advanced rental payments received for summer occupancy, in the amount of $39,900. 2 There were $1,260 of supplies on hand at June 30. Prepaid insurance resulted from the payment of a 1-year policy on April 1, 2022. A The mail in July 2022 brought the following bills: advertising for the week of June 24, $78; repairs made June 18, $3,115; and utilities for the month of June, $152. 5. Wage expense is $210 per day. At June 30, 4 days' wages have been incurred but not paid. 6. The note payable is a 6% note dated May 1, 2022, and due on July 31, 2022. PicMerger 7. Income tax of $9,380 for the quarter is due in July but has not yet been recorded