Camilia Communications reported the following figures from its adjusted trial balance for its first year...
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Accounting
Camilia Communications reported the following figures from its adjusted trial balance for its first year ofbusiness, which ended on July 31. 2018.
Prepare Camilia 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 |
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