On July 1, 2020, Academic Learning Services entered its second month of operations. On July 31, 2020, Breanne Allatt, the owner finalized the company's records that showed the following items $ 3.00 5. 5,200 38 Accounts payable Accounts receivable Cash Computer equipment Furniture Breanne Allarie, capital, June 30, 2020 Office rent expence Owen investuents during July 2020 Owners withdrawals Supplies Textbook rental revenue Tutoring revenue Tutors. wages expense Utilities expense 600 7,200 "Hint: The ending capital balance for one period is the beginning capital balance for the next period. Use the above information to prepare a July income statement ACADEMIC LEARNING SERVICES