On June 1, 2022, Sandhill Co. was started with an initial investment in the company of $25,500 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 Notes payable $ 5,600 4,140 $14,000 Accounts receivable Accounts payable 640 Service revenue 8,500 Supplies expense Supplies 2,456 1,520 620 Maintenance and repairs expense Advertising expense 400 Utilities expense 280 Equipment 30,800 Salaries and wages expense 1,600 Common stock 25,500 During June, the company issued no additional stock but paid dividends of $1,224. - A - During June, the company issued no additional stock but paid dividends of $1,224. Prepare an income statement for the month of June. SANDHILL CO. Prepare a retained earnings statement for the month of June.