On June 1, 2017, Elite Service Co. was started

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;

cash / $4600 / notes payable / $12,000

Accounts receivable/ 4,000/ accounts payable / 500

Service revenue/ 7,500 / supplies expense / 1,000

Supplies/ 2,400/ Maintenance and repairs expense/ 600

Advertising expense/ 400/ Utilities expense / 300

Equipment/ 26,000/ salaries and wages expense/ 1,400

Common Stock / 22,100

In June the company issues no additional stock but paid dividends of $1,400

need to address whether the company's first month of operations was a success and the discuss the company's decision to distribute a dividend