Topic 4-ch 4 Angus Insurance Agency prepares monthly financial statements. Presented below is an income statement for the month of June that has not considered the additional data below. < t ANGUS INSURANCE AGENCY Income Statement For the Month Ended June 30 Revenues Service Revenue. Expenses Salaries and wages expense. Rent expense.. Depreciation expense Advertising expense. Total expenses Net income $35,000+ $6,000 < 4,200 2.800 800 13.800 $21.200 Additional Data: < 1. A utility bill for $2,000 was received on the last day of the month for electric and gas service for the month of June. < 2. A company insurance salesman sold a life insurance policy to a client for a premium of $20,000. The agency billed the client for the policy and is entitled to a commission of 20%. < 3. Supplies on hand at the beginning of the month were $4,000. The agency purchased additional supplies during the month for $3,500 in cash and $1,200 of supplies were on hand at June 30. < 4. The agency purchased a new car at the beginning of the month for $24,000 cash. The car will depreciate $6,000 per year. < 5. Salaries owed to employees at the end of the month total $5,300. The salaries will be paid on July 5. < Required: Prepare a correct income statement for the month ended June 30. < + 2