Suppose Robin Sporting Goods Company reported the following data at July 31, 2021, with amounts in thousands: 

Use these data to prepare Robin Sporting Goods Company’s single-step income statement for the year ended July 31, 2021; statement of retained earnings for the year ended July 31, 2021; and classified balance sheet at July 31, 2021. Use the report format for the balance sheet. Draw arrows linking the three statements.

Transcribed Image Text:

Retained earnings, July 31, 2020. Accounts receivable....... Net revenues Total current liabilities.. All other expenses. Other current assets ...... Other assets................... ***** $ 31,500 34,000 191,000 80,000 29,000 5,000 30,000 Cost of goods sold................... Cash......... Property and equipment, net ... Common stock... Inventories. Long-term liabilities. Dividends........ $136,800 50,000 19,400 26,000 36,000 11,700 0