On June 1, Beardsley Service Co. was started with an initial investment in the company of $22,100 cash. Here are the assets and liabilities of the company at June 30, and the revenues and expenses for the month of June, its first month of operations:

In June, the company issued no additional stock, but paid dividends of $1,400.Instructions(a) Prepare an income statement and a retained earnings statement for the month of June and a balance sheet at June 30, 2012.(b) Briefly discuss whether the company's first month of operations was a success.(c) Discuss the company's decision to distribute adividend.

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Cash Accounts receivable Service revenue Supplies Advertising expense Equipment Notes payable Accounts payable Supplies expense Maintenance and repairs expense Utilities expense Salaries and wages expense $ 4,600 $12,000 500 1,000 600 7,500 2,400 400 26,000 300 1,400