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Required information [The following information applies to the questions displayed below] Liu Zhang operates Lawson Consulting, which began operations on June 1. The Retained
Required information [The following information applies to the questions displayed below] Liu Zhang operates Lawson Consulting, which began operations on June 1. The Retained Earnings account balance at June 1 was $0 and the owner invested $10,500 cash in the company on June 1. On June 30, the company's records show the following accounts and amounts for the month of June. Cash Accounts receivable $5,000 4,500 Dividends Service revenue $1,500 12,000 Equipment 6,500 Rent expense 2,000 Accounts payable 3,000 Wages expense 6,000 Common stock 10,500 Use the above information to prepare a June income statement for the business. LAWSON CONSULTING Income Statement
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