The following financial statements were prepared at the end of the month of May:

TOPS IN TOPIARY - INCOME STATEMENT FOR the month of May

Revenue$2,540Expenses:Rent Expense$500Advertising Expense$500Wages Expense$200$1,200Net Income$1,340

TOPS IN TOPIARY - STATEMENT OF OWNER'S EQUITY FOR the month of MAY

Owner's Equity at May 1$0plus: Investment2,000plus: Net Income1,340less: Withdrawals0Owner's Equity at May 31$3,340

TOPS IN TOPIARY - BALANCE SHEET AS OF MAY 31

ASSETSLIABILITES AND OWNER'S EQUITYCurrent Assets:Current Liabilities:Cash$1,380Accounts Payable$300Accounts Receivable$1,500Advertising Payable$500Prepaid Rent$ 500Advances from Customers$200Prepaid Advertising$ 500Supplies$ 100$3,980Equipment$ 360Owner's Equity$3,340Total Assets$4,340Total Liabilities & OE$4,340

During June the following transactions occurred:

1) Completed a job for which the customer paid $200 in June. The invoice is for $1000.

2) Hire a helper and paid $200 for works done.

3) Paid $500 for the rent of July.

4) Purchased supplies for $300. At the end of June notices that there are $200 of supplies left.

5) Orders new flyers for advertising. They will be ready in July but the printer asked to be paid in advance $100.

6) In June collected in cash $3,000 for 3 jobs are done for a total of $4,200, the rest is owed in account by the customers.

7) In June decided to start depreciating the equipment bought for $360 that is expected to last for 3 years.

Prepare "T" Accounts in CASH Basis for the period ended on June 30th and then answer the questions.

At the end of the accounting period (June 30th, T account after AJE), what is the total of Owners Equity?

Between $1,000 and $1,499

Less than $1,000

More than $3,000

Between $2,000 and $3,000

Between $1,500 and $1,999