Candace Communications reported the following figures from its adjusted trial balance for its first year of business, which ended on July 31, 2016: E: (Click the icon to view the accounts and balances.) Prepare Candace Communications's multi-step income statement for the year ended July 31, 2016. (Use a minus sign or parentheses to show other expenses.) Candace Communications Data Table - X Income Statement Year Ended July 31, 2016 Cash $ 3,000 Cost of Goods Sold $ 18,600 9,000 Less 1,100 Selling Expenses Account Payable Candace, Capital Notes Payable, long-term Merchandise Inventory Administrative Expenses Sales Returns and Allowances 1,200 Equipment, net 5,200 Accrued Liabilities 2,435 Sales Revenue 1,300 Accounts Receivable 700 Interest Expense 3,400 Sales Discounts 6,800 40,000 3,300 35 4,000 Print Done Choose from any list or enter any number in the input fields and then click Che Activ Il parts showing Clear All