The Longmeadow Painting Company begins operations on July 1, 2021. During the month of July, the company has the following activities: - The company earns $14,000 from painting houses, all paid in cosh. - The company uses $2,500 in paint and $350 in supplies. - The company pays employees $9,000 cash for labor provided during the month. - The company purchases additional paint for $2,000, paying cash. - The company has other cash oxpenses, including insurance and business fees, of $200. Fill in the following income statement for Longmeadow Painting incorporating the above activities. Do NOT enter $ signs, just numbers. Hint: Are supplies used part of Cost of Goods Sold? Roview course note 18 if you are not sure! Hint: is additional paint purchased an expense or an asset? \begin{tabular}{|l|l|l|} \hline \multicolumn{2}{|c|}{ Longmeadow Painting Co. } \\ \hline \multicolumn{2}{|c|}{ Income Statement } \\ \hline Revenue the month ended July 31, 2021 \\ \hline & & \\ \hline Expenses & Cost of goods sold & \\ \hline & \\ \hline Gross Profit & \\ \hline & \\ \hline Wage expense & \\ \hline Supplies expense & \\ \hline Other expense & \\ \hline \multicolumn{2}{|c|}{ Not income } \\ \hline \end{tabular}