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Question - The income statement of Bragg Co. for the month of June shows net income of $1,400 based on Service Revenue $5,500, Salaries and Wages Expenses $2,300, Supplies Expense $1,200, and Utilities Expense $600. In reviewing the statement, you discover the following:
a. Insurance expired during June of $450 was omitted.
b. Supplies expense includes $300 of supplies that are still on hand at June 30.
c. Depreciation on equipment of $180 was omitted.
d. Accrued but unpaid salaries and wages at June 30 of $400 were not included.
e. Services performed but unrecorded totaled $600.
Required - Prepare the correct income statement?
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