Carolina Communications reported the following figures from its adjusted trial balance for its first year of business, which ended on July 31, 2024: (Click the icon to view the accounts and balances.) X $ 19,100 8,600 Prepare Carolina Communications' multi-step income statement for the year ended July 31, 2024. (Use a minus sign or parentheses to show other expenses.) Cost of Goods Sold 19,100 Data Table Gross Profit 10,700 Operating Expenses: Selling Expenses $ 2,000 Cash $ 4,000 Cost of Goods Sold Administrative Expenses 2,800 Selling Expenses 2,000 Equipment, net Total Operating Expenses 4,800 Accounts Payable 5,100 Salaries Payable Operating Income 5,900 Common Stock 2,245 Net Sales Revenue Other Income and (Expenses): Notes Payable, long-term 1,000 Accounts Receivable Interest Expense (45) Merchandise Inventory 400 Interest Expense Administrative Expenses 2,800 Refunds Payable Total Other Income and (Expenses) (45) Estimated Returns Inventory 400 Sales Discounts Forfeited 5855 Net Income (Loss) 1,500 29,800 3,700 45 900 500 Print Done Choose from any list or enter any number in the input fields and then click Check