the income statement of Pharoah Company for the month of July shows net income of $3,190 based on Service Revenue $7,860, Salaries and Wages Expense $3,000, Supplies Expense $960, and Utilities Expense $710. In reviewing the statement, you discover the following: 1. Insurance expired during July of $440 was omitted. 2. Supplies expense includes $340 of supplies that are still on hand at July 31. 3. Depreciation on equipment of $340 was omitted. 4. Accrued but unpaid wages at July 31 of $470 were not included. 5. Service performed but unrecorded totaled $690. Prepare a correct income statement for July 2017.

PHAROAH COMPANY Income Statement For the Month Ended July 31, 2017 Revenues $ net income 3190 Expenses $ service performed but unrecorded 690 Supplies Expense 340 440 i Insurance Expense Depreciation Expense 340 Accrue but unpaid wages 470 Total Expenses 4670 Net Income/(Loss) 2970 $