1. Prepare the balance sheet for Wilson Towing Service as of June 30, 2018.
2. What does the balance sheet report?
The account balances of Wilson Towing Service at June 30, 2018, follow:

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$ 25,850 Service Revenue 1,000 Accounts Receivable 6,800 Accounts Payable Equipment $ 15,000 Office Supplies Notes Payable 9,000 8,000 3,250 900 Retained Earnings, June 1, 2018 1,400 Salaries Expense Rent Expense Cash 2,400 11,000 Dividends 3,500 Common Stock