Requirement #7: Prepare the financial statements for the Quick Tax Corporation as of July 31 in the space below. You will only be preparing the income statement, statement of retained earnings, and the balance sheet. The statement of cash flows is a required financial statement, but is not required for this case study. Quick Tax Corporation Income Statement For the Month Ending July 31 Revenues: Revenue Expenses: Rent Expense Salaries Expense Insurance Expense Supplies Expense Depreciation Expense Income Tax Expense Total Expenses Net Income Quick Tax Corporation Statement of Retained Earnings For the Month Ending July 31 Retained Earnings, July 1 Add: Net income Subtotal Less: Dividends Retained Earnings, July 31 Assets: Cash Supplies Quick Tax Corporation Balance Sheet July 31 Prepaid insurance Equipment Less Accum Depr. Total Assets Liabilities Accounts Payable. Income Tax Payable Total Liabilities Stockholders' Equity Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders Equity