Stacey is a dealer of personal properties who regularly sells under the installment plan, sold in 2009 for P120,000 an article acquired at P80,000, receiving P24,000 in the same year, with the unpaid balance in four equal annual installments. From this transaction, Stacey shall be subject to a taxable income of P8,000 per year starting 2009 until 2013.

On june 1, 2017, blossom company was started with an initial investment in the company of $22,360 cash. here are the assets, liabilities, and common stock of the company at june 30, 2017, and the revenues and expenses for the month of june, its first month of operations: cash $4,960 notes payable $12,720 accounts receivable 4,340 accounts payable 840 service revenue 7,860 supplies expense 1,100 supplies 2,300 maintenance and repairs expense 700 advertising expense 400 utilities expense 200 equipment 26,360 salaries and wages expense 1,760 common stock 22,360 in june, the company issued no additional stock but paid dividends of $1,660. prepare an income statement for the month of june.