Assume the perpetual inventory system is used unless stated otherwise. Round all numbers to the…

Assume the perpetual inventory system is used unless stated otherwise. Round all numbers to the nearest whole dollar unless stated otherwise. Use the following information to answer Short Exercises S5-10 and S5-11. Camilia Communications reported the following figures from its adjusted trial balance for its first year of business, which ended on July 31, 2018: Preparing a merchandiser’s statement of retained earnings and balance sheet Requirements 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. Prepare Camilia  Communications’s classified balance sheet at July 31, 2018. Use the report format.  

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