On August 1, 2016. Cross Fitness entered its second year of operations. Cross Fitness provides high performance group and personal training courses that have been derived from scientific research and exercises used by professional athletes. On July 31, 2017, Jay Jay Grey, the owner, finalized the company's records, which showed the following items. Accounts payable Accounts receivable Jay-Jay Grey, capital July 31, 2016 Jay-Jay Grey withdrawals Cash Furniture Interest expense Notes payable 10,600 Workout equipment 54,000 Prepaid rent Rent expense 80,500 Personal training revenue 52,000 Group training revenue 6,800 Supplies 14.400 Supplies expense 3,300 Utilities expense 32,000 Wages expense $ 20,400 5,200 20.000 4,900 149,000 3,600 17,100 11,000 69,200 "Hint The ending capital balance for one period is the beginning capital balance for the next period. There were no owner investments during the year ended July 31 2017 Required: a. Prepare an income statement for the year ended July 31, 2017 Required: a. Prepare an income statement for the year ended July 31, 2017 GROSS FITNESS Income Statement For Year Ended July 31, 2017 Revenues Total revenues Operating expenses Revenues Total revenues Operating expenses 0 Total operating expenses