On June 1, 2017, Nash's Trading Post, LLC was started with an initial investment in the company of $22,200 cash. Here are the assets, liabilities, and common stock of the company at June 30, 2017, and the revenues and expenses for the month of June, its first month of operations: Cash $ 4,700 Notes payable $12,200
Accounts receivable 4,100 Accounts payable 600
Service revenue 7,600 Supplies expense 1,010
Supplies 2,390 Maintenance and repairs expense 610
Advertising expense 400 Utilities expense 290
Equipment 26,100 Salaries and wages expense 1,500
Common stock 22,200
In June, the company issued no additional stock but paid dividends of $1,500.
1. Prepare an income statement for the month of June.
2. Prepare a retained earnings statement for the month of June. (List Items that increase earnings first)
3. Prepare a balance sheet at June30, 2017 (List assets in order of fiquidity)