Scenario: On June 1, 2017, Elite Service Co. was started with an initial
investment in the company of $22,100 cash. Below are the assets, liabilities, and common stock of the company June 30, 2017, and the revenues and expenses for the month of June, its first month of operations:
Maintenance and repairs expense
Salaries and wages expense
In June, the company issues no additional stock but paid dividends of $1,400.
Prepare an income statement, retained earnings statement, and balance sheet using the Week 1 Excel Spreadsheet provided in the Student materials.
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