Candace Communications reported the following figures from its adjusted trial balance for its first year of business, which ended on July 31, 2018: Prepare Caitlyn Communications's multi-step income statement for the year ended July 31, 2018.
Cash $2,900 Cost of Goods Sold $18,700
Selling Expenses 1,400 Equipment, net 9,500
Accounts Payable 4,300 Accrued Liabilities 1,800
Common Stock 4,365 Net Sales Revenue 29,200
Notes Payable, long-term 500 Accounts Receivable 3,200
Merchandise Inventory 1,100 Interest Expense 65
Administrative Expenses 3,300