Carolina Communications Income Statement Year Ended July 31, 2024 Net Income (Loss) Data Table X Cash $ 3,000 Cost of Goods Sold 1,800 Selling Expenses Accounts Payable Equipment, net Salaries Payable $ 19,500 11,500 1,600 4.500 Common Stock 7,620 Net Sales Revenue 28,000 Accounts Receivable 3,900 20 Notes Payable, long-term Merchandise Inventory Administrative Expenses Estimated Returns Inventory 1,300 1,200 3.100 1,200 Interest Expense Refunds Payable Sales Discounts Forfeited 1,200 1,000