ance Sheet The following selected accounts and their current balances appear in the ledger of Kanpur Co. for the fiscal year ended June 30, 2015: Cash $118,400 Gerri Faber, Drawing Accounts Receivable $70,900 309,000 Sales Merchandise Inventory 4,278,900 359,750 Cost of Merchandise Sold Office Supplies 2,507,500 11,200 Sales Salaries Expense Prepaid Insurance 705,100 8,600 Advertising Expense office Equipment 193,900 260,500 Depreciation Expense-Store Equipment Miscellaneous Selling Expense 37 800 Accumulated Depreciation-Office Equipment 177,000 16.500 Store Equipment 813,000 Office Salanes Expense 384,900 Accumulated Depreciation Store Equipment 260.500 Rent Expense 56.800 Accounts Payable 180,200 Insurance Expense 17 600 Customer Refunds Payable 28.400 Depreciation Expense-Office Equipment 28.400 Salaries Payable 11,500 Office Supplies Expense 10,400 Note Payable (final payment due in eight years) 377.500 Miscellaneous Administrative Exp. 7.600 Gerri Faber, Capital 615,350 Interest Expense 11,500 Required: 1. Prepare a multiple-step income statement: Kanpur Co. Income Statement For the Year Ended June 30, 2015 Expenses Selling expenses Check bly Work more Check My Work uses remaine Total selling expenses Administrative expenses: Total administrative expenses Total operating expenses 2. Prepare a statement of owner's equity. kanpur Co. Statement of Owner's Equity For the Year Ended June 30, 2015 II | || Assets Current assets: Total current assets Property, plant, and equipment: Total property, plant, and equipment Total assets Liabilities Current liabilities: Total current abilities Long-term 'abilities II Total property, plant, and equipment Total assets Liabilities Current liabilities: Total current liabilities Long-term liabilities: Total liabilities Owner's equity Total liabilities and owner's equity 4. Which type of income statement shows intermediate balances