Use the following information to answer Short Exercises 55-8 and S5-9. Carissa Communications reported the following figures from its adjusted trial balance for its first year of business, which ended on July 31, 2016: S5-8 Preparing a merchandiser's income statement Learning Objective 5 Prepare Carissa Communications's multi-step income statement for the year ended July 31, 2016. S5-9 Preparing a merchandiser's statement of owner's equity and balance sheet Learning Objective 5 Requirements 1. Prepare Carissa Communications's statement of owner's equity for the year ended July 31, 2016. Assume that there were no additional contributions or withdrawals during the year and that the business began on August 1, 2015. 2. Prepare Carissa Communications's classified balance sheet at July 31, 2016. Use the report format