Transaction Analysis, Trial Balance, and Financial Statements Kate Miller operates the Miller Dance Studio. The trial balance as of June 30 is as follows: MEHL DANCE STUDIO Trial Balance June 30 Debit Credit Cash 6,902 Accounts Receivable 8,470 Piano 6,050 Accounts Payable 308 Notes Payable 4,950 Common Stock 8,657 Retained Earnings 2,200 Dividends 825 Instructional Fees Earned 6,160 Performance Revenue 2,310 Rent Expense 1612 Utilities Expense 308 Advertising Expense 385 Interest Expense 33 Totals 24,585 24,585 Required c. Prepare an income statement for the month of June. d. Prepare a statement of stockholders equity for the month of June. e. Prepare a balance sheet as of June 30. f. Prepare closing entries. g. Prepare a post-closing trial balance. c. MEHL DANCE STUDIO Income Statement For the Month Ended June 30 Revenue Instructional Fees Earned $Answer Performance Revenue Answer Total Revenues $Answer Expenses Rent Expense Answer Utilities Expense Answer Advertising Expense Answer Interest Expense Answer Total Expenses Answer Net Income $Answer d. MEHL DANCE STUDIO Statement of Stockholders Equity For the Month Ended June 30 Common Stock Retained Earnings Total Balance, June 1 $Answer $Answer $Answer Add: Net Income Answer Answer Answer Less: Dividends paid (enter as negative) Answer Answer Answer Balance, June 30 $Answer $Answer $Answer e. MEHL DANCE STUDIO Balance Sheet June 30 Assets Liabilities Answer $Answer Answer $Answer Answer Answer Notes Payable Answer Piano Answer Total Liabilities Answer Stockholders' Equity Answer Answer Answer Answer Total Stockholders' Equity Answer Total Assets $Answer Total Liabilities and Stockholders' Equity $Answer f. General Journal Date Description Debit Credit June 30 Instructional Fees earned $Answer $Answer Answer Answer Answer Answer Answer Answer To close revenue accounts. June 30 Answer $Answer $Answer Rent expense Answer Answer Utilities expense Answer Answer Advertising expense Answer Answer Answer Answer Answer To close the expense accounts. June 30 Answer Answer Answer Answer Answer Answer To the closed the dividends account. g. MEHL DANCE STUDIO Post-Closing Trial Balance June 30 Debit Credit Cash $Answer $Answer Accounts receivable Answer Answer Piano Answer Answer Accounts payable Answer Answer Notes payable Answer Answer Common stock Answer Answer Retained earnings Answer Answer Totals $Answer $Answer