Services. Ms. Ke balance. She asked you to help her verify the trial balance and to prepare an income Statement showing net income or net loss 1. Prepare the correct trial balance as at June 30 (25 points). 2. Prepare the company's Income Statement for the month ended June 30 2017, in order to determine Cincinnati Landscaping Services Net Income/Loss for the month (18 points) Write a memo to Ms. Kouassi listing the type of errors found, and advising her of the most appropriate training available that will improve her skill set (7 points). 3. The following errors and Incomplete information were detected: a. The cash balance is understated by $700 b. The cost of the land was $43,000, not $46,000 c. The estimated allowance of $650 for bad debts/uncollectible was omitted d. A $500 purchase of supplies on account was neither journalized nor posted. e. A $2,800 credit to Service Revenue was not posted Rent Expense of $200 was erroneously posted as a credit rather than a debit. & The balance of Advertising Expense is 5600, but on the trial balance it was $500 h. A $300 debit to Accounts Receivable was posted as 530. I.The balance of Utilities Expense is overstated by $70 . Susan Philips account, a customer, of $170 was written off. This entry was omitted. k. A $900 debit to the Withdrawals account was posted as a debit to Margo Smith, Capital. L. Salaries Expense should be $2100 and not $1210. m. The equipment purchased on 1 June is expected to be in use for the next 5 years and then sold off as scrap for $600. The company uses the straight-line method n. Ending Imventory is $750 Cincinnati Landscaping Service Trial Balance June 30th 2017 Credit Cash Account Rec 10,080 M Inventory 1" June Purchases 800 910 3,600 Account Payable Note Payable Capital 4,000 26,710- 1,500 37 2,000 Service Revenue Salary Expenses Rent Expense Advertising Expense Utilities Expenses Total ,210 1100 1,000 400 13 0 5 69.560 AFDA