Accounting - 73348) Question 3 of 4 View Policies Current Attempt in Progress These financial statement items are for Sarasota Corporation for the year end, July 31, 2022. Salaries payable Salaries expense Utilities expense Equipment Accounts payable Service revenue Rent revenue Bank loan payable Common shares, August 1, 2021 Cash Accounts receivable Accumulated depreciation-equipment Dividends declared Depreciation expense Interest expense Interest payable Income tax expense Retained earnings, August 1, 2021 $5,415 51,780 22,530 32,800 4,485 76,490 8,110 1,800 15,570 27,420 23,580 5,300 4,060 3,990 100 100 1,500 35,060 Sarasota issued $15,430 of common shares during the year. (a) Your answer has been saved. See score details after the due date. Prepare an income statement for the year ended July 31, 2022. SARASOTA CORPORATION --- Prepare an income statement for the year ended July 31, 2022. SARASOTA CORPORATION Income Statement July 31, 2022 Revenues Service Revenue 76490 8110 Rent Revenue Total Revenues Expenses Salaries Expense 51780 Utilities Expense 22530 Depreciation Expense 3990 100 Interest Expense Total Expenses Income Tax Expense Net Income / (Loss) Prepare a statement of changes in equity for the year ended July 31, 2022. (If an amount reduces the account balance then enter with negative signe.s. - 45 or parentheses e.s. (45).) SARASOTA CORPORATION Statement of Changes in Equity July 31, 2022 Common Shares Retained Earnings Total Equity 15570 $ 35060 50630 $ 4700 4700 4060 -4060 15430 15430 $ 31000 $ 35700 06700 e Textbook and Media .../57 Question 3 of 4 = Prepare a classified statement of financial position at July 31, 2022. SARASOTA CORPORATION Statement of Financial Position Assets $ Liabilities and Shareholders' Equity E e