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The End of the Accounting Cycle prepare the financial statements: The adjusted trial balance for Scoops Ahoy, Inc. as of July, 2020 is given below:

Scoops Ahoy
Adjusted Trial Balance
As of 7/31/2020
Account:	DEBIT:	CREDIT:
Cash	$ 61,080
Accounts Receivable	$ 59,111
Inventory	$ 50,354
Equipment	$ 90,240
Accumulated Depreciation - Equipment		$ 9,024
Land	$ 11,440
Goodwill	$ 68,707
Accounts Payable		$ 44,819
Wages Payable		$ 8,420
Utilities Payable		$ 930
Interest Payable		$ 820
Notes Payable		$ 95,000
Common Stock		$ 6,530
Additional Paid-In Capital		$ 38,648
Retained Earnings		$ 119,399
Sales Revenue		$ 179,817
Cost of Goods Sold (COGS)	$ 84,524
Wages Expense	$ 65,107
Utilities Expense	$ 1,980
Interest Expense	$ 820
Depreciation Expense	$ 4,512
Rent Expense	$ 5,044
Dividends	$ 488
	$ 503,407	$ 503,407

Using the adjusted trial balance provided above for Scoops Ahoy, prepare the following financial statements for July:

PART A: Income statement for the period ended July 31^st, 2020.

PART B : Classified balance sheet as of July 31^st, 2020. Assume during 2020 no additional stock was issued and $488 in dividends were declared and paid in cash.

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