Reference no: EM132939879

PROBLEM - Camilia Communications reported the following figures from its adjusted trial balance for its first year of business, which ended on July 31, 2018:

Cash 2,900

Cost of Goods Sold 18,700

Selling Expenses 1,400

Accounts Payable 4,300

Equipment, net 9,500

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

Required -

1. Prepare Camilla Communications multi-step income statement for the year ended July 31, 2018

2. Prepare Camilla Communications statement of retained earnings for the year ended July 31. 2018. Assume that there were no dividends declared during the year and that the business began on August 1, 2017.

3. Prepare Camilia Communications classified balance sheet at July 31 2018. Use the report format.