The account balances of Wilson Towing Service at June 30, 2014 are listed below. Indicate the following for each account balance: 1. The Type of Account (more than one type may be used for each balance) (A) Asset (L) Liability (E) Equity (R) Revenue (X) Expense 2. The Financial Statement where the balance should be presented. (IS) Income Statement (RE) Statement of Retained Earnings (BS) Balance Sheet Financial Account Type Statement $ Account Title Equipment Office Supplies Notes Payable Rent Expense Cash Dividends Service Revenue Accounts Receivable Accounts Payable Salaries Expense Common Stock Retained Earnings, June 1, 2014 Account Balance 22,400 1,000 5,500 600 1,700 1,000 15,500 9,000 10,000 2,300 6,000 1,000 3. Prepare the income statement for the month ending June 30, 2014. 4. What does the income statement report? 5. Prepare the statement of retained earnings for the month ending June 30, 2014. 6. What does the statement of retained earnings report? 7. Prepare the balance sheet as of June 30, 2014. 8. What does the balance sheet report? Wilson Towing Service Income Statement Month Ended June 30, 2014 Wilson Towing Service Statement of Retained Earnings Month Ended June 30, 2014 Wilson Towing Service Balance Sheet June 30, 2014 Assets Liabilities Stockholders' Equity