Requirement 1. Prepare the income statement of Smith Consulting, Inc. for the month en Assets Liabilities Shareholders' Equity Accounts Accounts Begin by selecting the labels for the income statement heading. Then complete the incom order by amount. (Use a minus sign or parentheses for a net loss.) Common Retained Cash + Receivable + Supplies+ Land Payable Shares Earnings Smith Consulting, Inc. Bal. 1,300 1,350 11,700 8,400 3,900 2,050 Income Statement For the Month Ended June 30, 2020 Print Done Revenues: Service revenue 8,800 Transactions - X Expenses: Rent expense %24 700 Advertising expense 100 During June 2020, the business completed these transactions: 800 a. Received cash of $9,100 and issued common shares. Total expenses b. Performed services for a client and received cash of $6.700. Net income (loss) 8,000 Paid $4,400 on accounts payable. C. d. Purchased supplies on account, $1,200. Requirement 2. Prepare the entity's statement of retained earnings for the month ended June 30, 2d e. Collected cash from a customer on account, $300. Begin by selecting the correct heading, and then complete the statement by selecting the appropriate f. Consulted on the design of a business report, and billed the client for services rendered, $2,100. Smith Consulting, Inc. g. Recorded the following business expenses for the month: paid office rent, $700; paid advertising, $100. h. Declared and paid à cash dividend of $1,800. Choose from any list or enter any number in the input fields and then click Check Answer. All narts shnwinn Total expenses 800 Net income (loss) %24 8,000 Requirement 2. Prepare the entity's statement of retained earnings for the month ended June 30, 2020. Begin by selecting the correct heading, and then complete the statement by selecting the appropriate labels and entering the correct amounts. (Use a minus sign or parentheses for a net loss.) Smith Consulting, Inc. Statement of Retained Earnings For the Month Ended June 30, 2020 Retained earnings, May 31, 2020 2,050 Add: Net income (loss) 8,000 10,050 Less: Dividends (1,800) %24 8,250 Retained earnings, June 30, 2020 Requirement 3. Prepare the balance sheet of Smith Consulting, Inc. at June 30, 2020. Choose from any list or enter any number in the input fields and then click Check Answer. All parts showing Clear All Requirement 3. Prepare the balance sheet of Smith Consulting, Inc. at June 30, 2020. Begin by selecting the correct heading. Then complete the balance sheet by selecting the appropriate accounts and entering the balance for each account. Smith Consulting, Inc. Balance Sheet As at June 30, 2020 Assets Liabilities Cash Accounts payable Accounts receivable Shareholders' Equity Supplies Common shares Land Retained earnings Total shareholders' equity Total assets Total liabilities and shareholders' equity Choose from any list or enter any number in the input fields and then click Check Answer.