On June 1, Cindy Godfrey started Divine Designs Co., a company that provides craft opportunities, by investing $12,000 cash in the business. Following are the assets and liabilities of the company at June 30 and the revenues and expenses for the month of June.

Cindy made no additional investment in June but withdrew $1,300 in cash for personal use during the month.

Instructions

Prepare an income statement and owner?s equity statement for the month of June and a balance sheet at June 30, 2022.

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Accounts payable Service revenue Advertising expense Rent expense $1,200 6,500 500 1,600 350 Cash $10,150 Accounts receivable Supplies Equipment Notes payable 2,800 2,000 10,000 9,000 Utilities expense