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Requirements 1. Prepare Caitlyn Communications's statement of retained earnings for the year ended July 31,...

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Requirements 1. Prepare Caitlyn Communications's statement of retained earnings for the year ended July 31, 2016. Assume that there were no dividends declared during the year and that the business began on August 2015 2. Prepare Caityn Communications's classified balance sheet at J 31, 2016. Use the report format. uly Requirement 1. Prepare Caitlyn Communications s statement of retained earnings for the year ended July 31, 2016. Assume that there were no dividends declared during the year and that the business began on August 1,20 Caitlyn Communications Data Table Statement of Retained Earnings Year Ended July 31, 2016 Retained Earnings, August 1, 2015 Cash 3,600 Cost of Goods Sold 18,900 12.500 Selling Expenses 1,100 Equipment, net Retained Earnings, July 31, 2016 Accounts Payable 4,600 Accrued Liabilities 800 Common Stock 4,225 Sales Revenue 43.000 2,800 Notes Payable, long-term 600 Accounts Receivable Merchandise Inventory 1,300 Interest Expense 25 Administrative Expenses 3,600 Sales Discounts 3.400 7,000 Sales Returns and Allowances Done

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