Reference no: EM132507761

On June 1, 2021, Holistic Company was started with an initial investment in the company of $19,250 cash. The assets, liabilities, and common stock of the company are listed below at June 30, 2021, and the revenues and expenses for the month of June, its first month of operations:

Cash $4840

Accounts Receivable 4270                     Notes Payable $12480

Service Revenue 7700                           Accounts Payable 770

Supplies 2462                                      Supplies Expense 780

Advertising Expense 400                        Repairs expense 610

Equipment 23700                                  Utilities Expense 290

Common Stock 19250                            Salaries Expense 1000

Question 1: During June, the company issued no additional stock but paid dividends of $1848. Draw up the income statement.