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) Income Statement Year Ended July 31, 2024 Data table Cash $ 3,500 Cost of Goods Sold $ 19,800 Selling Expenses 1,000 Equipment, net 8,500 Accounts Payable 4,200 Salaries Payable 1,600 Common Stock 4,540 Net Sales Revenue 28,800 Notes Payable, long-term 1,500 Accounts Receivable 3,800 Merchandise Inventory 1,200 Interest Expense 40 Administrative Expenses 3,000 Refunds Payable 400 Estimated Returns Inventory 800 Sales Discounts Forfeited 600 Print Done -