S5-11 (book/static) Question Help Camilla 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 Click the icon to view the accounts and balances.) (Click the icon to view the muls-step income statement.) Read the requirements 31, 2018 Requirement 1. Prepare Camilia 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 business began on August 1, 2017. (Enter a "O" for any zero balances. Include only applicable transactions during the period.) Camilla Communications Statement of Retained Earnings Year Ended July 31, 2018 Retained Earnings August 1, 2017 Retained Earnings, July 31, 2018 Requirements DI R ed 1. Prepare Camilia 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 business began on August 1, 2017. 2. Prepare Camilia Communications's classified balance sheet at July 31, 2018. Use the report format. Print Done - Data Table at ia he br Cash $ $ 18,700 9,500 st Selling Expenses Accounts Payable Common Stock Notes Payable, long-term Merchandise Inventory Administrative Expenses 2,900 Cost of Goods Sold 1,400 Equipment, net 4,300 Accrued Liabilities 4,365 Net Sales Revenue 500 Accounts Receivable 1,100 Interest Expense 3,300 1,800 29,200 3,200 July 65 Print Done X i Reference Camilia Communications Income Statement Year Ended July 31, 2018 $ Net Sales Revenue 29,200 18,700 10,500 1,400 3,300 Cost of Goods Sold Gross Profit Operating Expenses: Selling Expenses Administrative Expenses Total Operating Expenses Operating Income Other Income and (Expenses) Interest Expense Total Other Income and (Expenses) 4,700 5,800 (65) (65) 5,735 Net Income (Loss) ente Print Done