value: 2. value: 4.00 points The following transactions are July activities of Craig's Bowling, Inc. a. Craig's collected $13,500 from customers for games played in July. b. Craig's sold bowling merchandise inventory from its pro shop for $8,200; received $3,700 in cash and customers owed the rest on account. (The cost of goods sold (expense) related to these sales is $3,890.] C. Craig's received $3,300 from customers who purchased merchandise in June on account. d. The men's and ladies' bowling leagues gave Craig's a deposit of $2,800 for the upcoming fall season. e. Craig's paid $1,900 on the electricity bill for June (recorded as expense in June). f. Craig's paid $5,500 to employees for work in July. g. Craig's purchased $1,620 in insurance for coverage from July 1 to October 1. (Part is an expense for July and part is a prepaid expense to be used in future months.) h. Craig's paid $1,600 to plumbers for repairing a broken pipe in the restrooms. i. Craig's received the July electricity bill for $1,600 to be paid in August. Prepare an income statement for Craig's Bowling, Inc., for the month of July. CRAIG'S BOWLING, INC. Income Statement For the Month of July Revenues: Total revenues Expenses: Total expenses