1. Prepare a multiple-step income statement. Kanpur Co. Income Statement For the Year Ended June 30, 20Y7 Sales Cost of goods sold Gross profit Expenses: Selling expenses: Sales salaries expense Advertising expense Depreciation expense-store equipment Miscellaneous selling expense Total selling expenses Administrative expenses: Office salaries expense Rent expense Insurance expense Depreciation expense-office equipment engagenow.com/itrn/takeAssignment/takeAssignmentMain.do?invoker=\&takeAssignmentSessionLocator=\&inpro Maya Kanpur, Drawing Sales Cost of Goods Sold Sales Salaries Expense Advertising Expense Depreciation Expense-Store Equipment Miscellaneous Selling Expense Office Salaries Expense Rent Expense Insurance Expense Depreciation Expense-Office Equipment Office Supplies Expense Miscellaneous Administrative Expense Interest Expense Required: 1. Prepare a multiple-step income statement. 1. Prepare a multiple-step income statement. Kanpur Co. Income Statement For the Year Ended June 30, 20 Y7 Sales Cost of goods sold The following selected accounts and their current balances appear in the ledger of Kanpur Co. for the fiscal year ended June 30, 20Y7