The income statement of Bragg Co. for the month of July shows net income of \(\$ 1,400\) based on Service Revenue \(\$ 5,500\), Salaries and Wages Expense \(\$ 2,300\), Supplies Expense \(\$ 1,200\), and Utilities Expense \(\$ 600\). In reviewing the statement, you discover the following.

1. Insurance expired during July of \(\$ 450\) was omitted.

2. Supplies expense includes \(\$ 300\) of supplies that are still on hand at July 31 .

3. Depreciation on equipment of \(\$ 180\) was omitted.

4. Unpaid salaries and wages at July 31 of \(\$ 400\) were not included.

5. Services performed but unrecorded totaled \(\$ 600\).

Instructions

Prepare a correct income statement for July 2025.