Carolina Communications, Corp., reported the following figures in its financial statements:

Requirement
1. Prepare the business€™s multi-step income statement for the year ended July 31,2012.

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S 3,800 Cost of goods sold 3,500 Equipment, net 4,100 Accrued liabilities 4,200 S 18,000 10,200 1,700 Cash Total operating expenses Accounts payable Total stockholders' equity Long-term notes payable Inventory Net sales revenue 28,000 Accounts receivable 500 700