The income statement of Venden Co. for the month of July shows net income of

$4,000 based on Service Revenue $8,700, Salaries and Wages Expense $2,500, Supplies

Expense $1,700, and Utilities Expense $500. In reviewing the statement, you discover

the following.

Prepare correct income statement. 2. The income statement of Venden Co. for the month of July shows net income of $4,000 based on Service Revenue $8,700, Salaries and Wages Expense $2,500, Supplies Expense $1,700, and Utilities Expense $500. In reviewing the statement, you discover the following 1. Insurance expired during July of $700 was omitted, 2. Supplies expense includes $250 of supplies that are still on hand at July 31. 3. Depreciation on equipment of $300 was omitted. 4. Accrued but unpaid wages at July 31 of $400 were not included. 5. Services performed but unrecorded totaled $650. Instructions: Prepare a correct income statement for July 2017 Credit VENDEN CO Income Statement For the Month Ended July 31, 2017 Debit Revenues Services revenue Expenses Salaries and wages expense Supplies expense Utilities expense Insurance expense Depreciation expense Total expenses Net income