Caroline 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, 2018: .: (Click the icon to view the accounts and balances.) (Click the icon to view the multi-step income statement.) Read the requirements Requirement 1. Prepare Caroline Communications's statement of retained earnings for the year ended July 31, 2018. Assume that there were no dividends declared during the year and that the busing Tg the period.) Reference Data Table Caroline Communications Statement of Retained Earnings Year Ended July 31, 2018 Retained Earnings, August 1, 2017 Cash $ 3.000 Cost of Goods Sold $ 19,300 Caroline Communications Income Statement Year Ended July 31, 2018 12,000 1,600 Equipment, net 4,700 Accrued Liabilities 1,300 Net Sales Revenue $ Retained Earnings, July 31, 2018 Requirement 2. Prepare Caroline Communications's classified balance sheet at July 31, 201 Begin by completing the assets section, then complete the liabilities and stockholders' equity 29,600 19,300 5,815 Net Sales Revenue 29,600 Cost of Goods Sold Selling Expenses Accounts Payable Common Stock Notes Payable, long-term Merchandise Inventory Administrative Expenses 2.800 Gross Profit 10,300 1,100 Accounts Receivable 1,300 Interest Expense 2,500 Caroline Communications 15 Balance Sheet $ 1.600 2,500 July 31, 2018 Assets Print Done 4.100 Operating Expenses: Selling Expenses Administrative Expenses Total Operating Expenses Operating Income Other Income and (Expenses) Interest Expense Total Other Income and (Expenses) 6.200 (15) (15) $ 6,185 Net Income (Loss) Print Done Choose from any list or enter any number in the input fields and then continue to the next question. Save for later