1. Prepare the income statement for Wilson Towing Service for the month ending June 30, 2018.
2. What does the income statement 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