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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 Earnings
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 $13,520 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 Equipment Accounts payable Common stock $ 6,000 4,700 6,700 3,180 13,520 Dividends Service revenue Rent expense Wages expense $ 1,700 12,600 2,200 8,000 Use the above information to prepare a June income statement for the business. Answer is not complete. LAWSON CONSULTING Income Statement For Month Ended June 30 Revenues: Service revenue $ 12,600 Total Revenues $ 12,600 Expenses: Wages expense Rent expense 8,000 olo 2,200 10,200 Total Expenses Net income
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