The income statement of Montee 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: Insurance expired during July of $400 was omitted. Supplies expense includes $250 of supplies that are still on hand at July 31. Depreciation on equipment of $150 was omitted. Accrued but unpaid salaries and wages at July 31 of $300 were not included. Services performed but unrecorded totaled $650. no Instructions Prepare a correct income statement for July 2017. NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a "?". MONTEE COMPANY Income Statement For the Month Ended July 31, 2017 Debit Credit $ 5,500 Revenue Service Revenue Expenses Salaries & Wages Expense Supplies Expense Utilities Expense Insurance Expense Depreciation Expense Total Expenses Net Income $ 2,300 $1,200 $600 Value Value $ 1,400