The Income Statement for the Month of June, 2018 of Camera

Multiple Choice

The income statement for the month of June, 2018 of Camera Obscura Enterprises contains the following information: $\begin{array}{lr}\text { Revenues }&&\$7,000\\\text { Expenses: }\\\text { Salaries and Wages Expense } & \$ 3,000 \\\text { Rent Expense } & 1,500 \\\text { Advertising Expense } & 800 \\\text { Supplies Expense } & 300 \\\text { Insurance Expense } & 100\\\text { Total expenses }&&5,700\\\text { Net income }&&\$1,300\end{array}$ At June 1, 2018, Camera Obscura reported retained earnings of $35,000. The company had no dividends during June. At June 30, 2018, the company will report retained earnings of

A) $29,300.
B) $35,000.
C) $36,300.
D) $42,000.