Carissa Communications reported the figures from its adjusted trial balance and from its multi-step income statement for its first year of business, which ended on July 31, 2024: (Click the icon to view the multi-step income statement.) (Click the icon to view the accounts and balances.) Read the requirements Data table Cash Selling Expenses Accounts Payable Common Stock Notes Payable, long-term Merchandise Inventory Administrative Expenses Estimated Returns Inventory $ 4,100 1,600 4,100 6,235 Cost of Goods Sold Equipment, net Salaries Payable Net Sales Revenue 1,100 Accounts Receivable 800 Interest Expense Refunds Payable Sales Discounts Forfeited 3,000 400 -X $ 18,600 11,500 1,700 28,600 3,600 35 1.000 900 Requirements 1. Prepare Carissa Communications' statement of retained earnings for the year ended July 31, 2024. Assume that there were no dividends declared during the year and that the business began on August 1, 2023. 2. Prepare Carissa Communications classified balance sheet at July 31, 2024. Use the report format.