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 cash. 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 expenses, 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? Review course note 1B if you are not sure! Hint: Is additional paint purchased an expense or an asset? Longmeadow Painting Co. Income Statement For the month ended July 31, 2021 Revenue Expenses Cost of goods sold Gross Profit Wage expense Supplies expense Other expense Net income