Carmen 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: E: (Click the icon to view the accounts and balances.) (Click the icon to view the multi-step income statement.) Read the requirements. - Data Table Balance Sheet July 31, 2024 Assets Cash $ 3,300 Cost of Goods Sold $ 19,100 Current Assets: 1,200 Accounts Receivable $ 3,400 Selling Expenses Accounts Payable Equipment, net Salaries Payable 5,000 13,500 1,600 30,000 Merchandise Inventory 300 Common Stock 5,045 Net Sales Revenue Cash 3,300 1,400 Accounts Receivable 3,400 300 45 Total Current Assets 7000 Notes Payable, long-term Merchandise Inventory Administrative Expenses Estimated Returns Inventory 3,200 Interest Expense Refunds Payable Sales Discounts Forfeited 1,100 Property, Plant, and Equipment: Equipment, Net 1,100 1,000 13,500 Total Property, Plant, and Equipment 13,500 Print Done Total Assets Choose from any list or enter any number in the input fields and then click Check Answer. i - X Reference 0 0 $ 30,000 19,100 10,900 income Statement Year Ended July 31, 2024 Net Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses: Selling Expenses $ Administrative Expenses Total Operating Expenses Operating Income Other Income and (Expenses): Sales Discounts Forfeited 1,200 3,200 4,400 6,500 1,000 (45) 955 Interest Expense Total Other Income and (Expenses) Net Income (Loss) $ 7,455 Print Done