(32-bit) wity Ma... x Lecture 7.pdf DETE 1 / 2 75% le 4.2 Financial Statements (50 points) Gulf Corp, began operations on August 1, 2013. la adjusted account balances at July 31, 2014 are shown below. Use this information to prepare the following: a. Income statement for the year anded July 31, b. Statement of changes in equity for the year ended July 31, c. Classified balance sheet at July 31. (select one) Income Statement (select one) Account Accounts receivable Accumulated depreciation, equipment Accumulated depreciation, machinery Bonds Payable (due March, 2018) Cash Commissions eamed Consulting revenue earned Depreciation expense, equipment Depreciation expense, machinery Dividends Equipment Interest expense Land Long-term notes payable Long-term investments Machinery Patents Property taxes Dons Property tax payable Rentered Runt ponse Ropayable Share cap Shorontos payable Trademark Balance 8.980 1.460 1.360 12,050 5,920 4.620 8,320 1,460 1,380 1.920 12,280 1900 10.270 13.030 5.510 7,040 4,630 5,420 3.770 7020 7. 150 7310 8.230 11 290 3.720 octone) Sortement of Changes in Equity select one) Share Retained Total Captal Eaminen Eeuty (sele Balance Sheet low