' Carissa Communications reported the following figures from its adjusted trial balance for its first year of business, which ended on July 31, 2016: Cash Selling Expenses Accounts Payable Common Stock Notes Payable, long-term Merchandise Inventory Administrative Expenses Sales Returns and Allowances $ 4,100 1,300 4,900 2,820 400 1,200 3,100 7,400 Cost of Goods Sold1 Equipment, net Accrued Liabilities Sales Revenue Accounts Receivable Interest Expense Sales Discounts $ 18,800 8,500 2,000 42,000 3,400 20 4,300 Prepare Carissa Communications's multi-step income statement for the year ended July 31, 2016