The trial balance as of July 31, 2024, for Sheila Sanchez, Registered Dietician, is presented below

Requirements 1. Prepare the income statement for the month ended July 31, 2024.
2. Prepare the statement of retained earnings for the month ended July 31, 2024. The beginning balance of retained earnings was $0.
3. Prepare the balance sheet as of July 31, 2024.
4. Calculate the debt ratio as of July 31, 2024.

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SHEILA SANCHEZ, REGISTERED DIETICIAN Trial Balance July 31, 2024 Account Title Cash Accounts Receivable Office Supplies Prepaid Insurance Equipment Accounts Payable Unearned Revenue Notes Payable Common Stock Dividends Service Revenue Salaries Expense Rent Expense Utilities Expense Total Balance Debit $32,000 9,100 1,400 2,600 24,000 3,000 1,600 700 100 $ 74,500 Credit $ 3,400 1,296 34,000 20,000 15,804 $ 74,500