Application Problem 3-16 an Wei owns a cycle store that sells equipment, clothing, and other accessories. During the month of June, the following activities occurred: 1. The business earned $34,000 from the sale of bicycles, clothing, and accessories. Half the sales were for cash and the other half was on account. 2. The merchandise that was sold originally cost $17,400. 3. Jan purchased additional merchandise on credit for $21,100 4. Jan paid $18,000 to the suppliers of the merchandise purchased above 5. The telephone, electricity, and water bills for the month came to $410. All but one of these bills, for $130, was paid by the end of the month. 6. Additional expenses for the month, including depreciation expense of $600, totalled $2,100. They were all paid in cash, except the depreciation expense, and were for repairs and maintenance done to the store loan principal. $300 deposit on it. 7. At the end of May, Jan had an 8% loan for $4,650 outstanding with the bank. On the last day of June, Jan paid the monthly interest that was owed on the loan, and also paid $500 on the 8. On the last day of June, a customer ordered a $1,450 bicycle. Jan did not have it in stock, so it was ordered and will be delivered in July. Since it was a special order, the customer paid a Your answer is partially correct. Try again. Determine the amounts that would properly be reported in the June statement of income for Jan's shop. (If an item is excluded, select "Excluded" for the account title and and enter 0 for the amounts. Round answers to the nearest whole dollar, e.g. 5,275.)