Morrison Accounting Services was organized on June 2 by a group of accountants to provide accounting and tax services to small businesses. The following transactions occurred during the first month of business:

June 2	Received contributions of $10,000 from each of the three owners of the business in exchange for shares of stock. (Capital Stock)
June 5	Purchased a computer system for $12,000. The agreement with the vendor requires a down payment of $2,500 with the balance due in 60 days. (Computer; Cash; Accounts Payable)
June 8	Signed a two-year promissory note (Note Payable) at the bank and received cash of $20,000.
June 15	Billed $12,350 to clients for the first half of June. Clients are billed twice a month for services performed during the month, and the bills are payable within ten days. (Accounts Receivable; Service Revenue)
June 17	Paid a $900 bill from the local newspaper for advertising for the month of June. (Advertising Expense)
June 23	Received the amounts billed to clients for services performed during the first half of the month.
June 28	Received and paid gas, electric, and water bills (Utilities Expense). The total amount is $2,700.
June 29	Received the landlords bill for $2,200 for rent on the office space the Morrison leases. The bill is payable by the 10th of the following month. (Rent Expense; Rent Payable)
June 30	Paid salaries and wages for June. (Salaries Expense) The total amount is $5,670.
June 30	Billed $18,400 to clients for the second half of June.
June 30	Declared and paid dividends in the amount of $6,000. (Dividends)

1.)Prepare the following financial statements in good form:

-Income statement for the month of June

-Statement of retained earnings for the month of June

-Classified balance sheet at June 30.