Wild Animal Presentations initiated operations on July 1, 2014. To manage the company, officers and managers have requested monthly financial statements starting July 31, 2014. The adjusted trial balance amounts at July 31 are shown below. 
(a) Determine the net income for the month of July.
(b) Determine the total assets and total liabilities at July 31, 2014 for Wild Animal Presentations.
(c) Determine the amount that appears for Retained earnings at July 31, 2014.
Definitions:
Retaining Face
The act of maintaining one's dignity, honor, and respect in the social context, often by avoiding embarrassment or admitting fault.
Mediation
A conflict resolution method involving a neutral third party who assists disputing parties in finding a mutually satisfactory agreement.
Retaining Face
Maintaining one's dignity, honor, or respect in social contexts, particularly in the face of potential embarrassment or shame.
Ethnomethodologists
Researchers who study the ways in which individuals construct and understand their social worlds through everyday interactions and practices.
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