Sample Test Problem 4.03 Carla Vista Corporation recently filed the following financial statements with the SEC. Carla Vista Corporation Income Statement for the Fiscal Year Ended July 31, 2017 Net sales Cost of products sold Gross profit Selling, general, and administrative expenses 10,640 Depreciation Operating income (loss) Interest expense Earnings (loss) before income taxes Income taxes Net earnings (loss) $83,489 59,385 $24,104 1,208 $12,256 740 $11,516 4,031 $7,485 Carla Vista Corporation Balance Sheet as of July 31, 2017