The income statement of Benning Co. for the month of July shows net income of $1

The income statement of Benning Co. for the month of July shows net income of $1400 based on Service Revenue $5500Wages Expense $2300 Supplies Expense $1200 and Utilities Expense $600. In reviewing the statement you discover the following. 1. Insurance expired during July of $400 was omitted. 2. Supplies expense includes $200 of supplies that are still on hand at July 31. 3. Depreciation on equipment of $150 was omitted. 4. Accrued but unpaid wages at July 31 of $300 were not included. 5. Services provided but unrecorded totaled $500. Instructions Prepare a correct income statement for July 2008.