Problem 1-3A (Part Level Submission)

On June 1, 2017, Sheridan Company was started with an initial investment in the company of $22,200 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		$ 4,890		Notes payable		$12,580
Accounts receivable		4,460		Accounts payable		960
Service revenue		7,790		Supplies expense		1,080
Supplies		2,320		Maintenance and repairs expense		680
Advertising expense		400		Utilities expense		220
Equipment		26,290		Salaries and wages expense		1,690
Common stock		22,200

In June, the company issued no additional stock but paid dividends of $1,500.Prepare an income statement for the month of June.

Prepare an income statement for the month of June.