5 P2-34A Preparing financial statements from the trial balance and calculating the debt ratio The trial balance as of July 31, 2018, for Sara Simon, Registered Dietician, is presented below: ,788 SARA SIMON REGISTERED DIETICIAN Trial Balance July 31, 2018 Account Title Cash Accounts Receivable Office Supplies Prepaid Insurance Equipment Accounts Payable Unearned Revenue Notes Payable Common Stock Dividends Service Revenue Salaries Expense Rent Expense Utilities Expense Balance Debit Credit $ 38,000 9,000 2,300 2,400 16,000 $ 3,000 3,912 31,000 18,000 2,800 17,888 1,700 1,100 500 $ 73,800 $ 73,800 Total Requirements 1. Prepare the income statement for the month ended July 31, 2018. 2. Prepare the statement of retained earnings for the month ended July 31, 2018. The beginning balance of retained earnings was $0. 3. Prepare the balance sheet as of July 31, 2018