The trial balance as of July 31,2024 , for Sara Simon, Registered Dietician, is presented below: (Click the icon to view the trial balance) Read the requirements. Requirement 1. Prepare the income statement for the month ended July 31, 2024. (If a box is not used in the statement, leave the box empty, do not select a label or enter a zero.) Data table Jul. 1 York contributed $63,000 cash to the business in exchange for common stock Jul. 5 Paid monthly rent on medical equipment, $510. Jul. 9 Paid $23,000 cash to purchase land to be used in operations. Jul. 10 Purchased office supplies on account, $1,600. Jul. 19 Borrowed $22,000 from the bank for business use Jul. 22 Paid $1,100 on account. Jul. 28 The business received a bill for advertising in the daily newspaper to be paid in August, $240. Jul. 31 Revenues earned during the month included $6,400 cash and $6,000 on account. Jul. 31 Paid employees' salaries $2,200, office rent $1,900, and utilities $560. Record as a compound entry Jul. 31 The business received $1,120 for medical screening services to be performed next month Jul. 31 Paid cash dividends of $7,200