The income statement of Brandon Co. for the month of July shows net income of $1,400 based on Service Revenue $5,500, Salaries and Wages Expense $2,300, Supplies Expense $1,200, and Utilities Expense $600. In reviewing the statement, you discover the following 1. Insurance expired during July of $400 was omitted 2. Supplies expense includes $250 of supplies that are still on hand at July 31. 3. Depreciation on equipment of $150 was omitted 4. Accrued but unpaid salaries and wages at July 31 of $300 were not included. 5. Services provided but unrecorded totaled $650 Prepare a correct income statement for July 2012 BRANDON CO. Income Statement For the Month Ended July 31, 2012