Caitlyn Communications reported the following figures from its adjusted trial balance for its first year of business, which ended on July 31, 2024: (Click the icon to view the accounts and balances.) Prepare Caitlyn Communications' multi-step income statement for the year ended July 31, 2024. (Use a minus sign or parentheses to show other expenses.) Net Income (Loss) Caitlyn Communications Income Statement Year Ended July 31, 2024 Data table Cash $ 3,500 Cost of Goods Sold $ 18,400 Selling Expenses 1,200 Equipment, net 12,500 Accounts Payable 5,100 Salaries Payable 1,800 Caitlyn, Capital 6,845 Net Sales Revenue 28,000 Notes Payable, long-term 800 Accounts Receivable 3,000 Merchandise Inventory 1,100 Interest Expense 45 Administrative Expenses 3,400 Refunds Payable 1,000 Estimated Returns Inventory 700 Sales Discounts Forfeited 300 Print Done