Problem 1-03A a1-a3 (Part Level Submission)

On June 1, 2022, Wildhorse Co. was started with an initial investment in the company of $19,750 cash. Here are the assets, liabilities, and common stock of the company at June 30, 2022, and the revenues and expenses for the month of June, its first month of operations:

Cash		$ 4,960		Notes payable		$12,720
Accounts receivable		4,340		Accounts payable		840
Service revenue		7,900		Supplies expense		860
Supplies		2,291		Maintenance and repairs expense		700
Advertising expense		400		Utilities expense		200
Equipment		24,800		Salaries and wages expense		1,000
Common stock		19,750

During June, the company issued no additional stock but paid dividends of $1,659.

(al) Prepare an income statement for the month of June. WILDHORSE CO. Income Statement $