Calculator Print Item Multiple-step Income statement and balance sheet Instructions Labels and Amount Descriptions Income Statement Statement of Stockholders' Equity Instructions The following selected accounts and their current balances appear in the ledger of Claremont Co. for the fiscal year ended May 31, 2012: Cash Accounts receivable $243,100 984,900 1.788,600 21,200 17,800 8,400 Inventory Estimated returns Inventory Office supplies Prepaid Insurance Office equipment Accumulated depreciation-office equipment Store equipment Accumulated depreciation-store equipment Accounts payable Customer refunds payable Salarios payable 825,000 543,800 3,609,700 1,814,900 356,300 39,200 44,100 Check My Work 2 more Check My Work uses remaining Instructions 289,000 Note payable (final payment due in 6 years) Common stock 500,900 Retained earnings 3,143,700 Dividends 94,200 Sales 11,281,200 Cost of goods sold Sales salarles expense 7,858,000 917,600 551,900 Advertising expense Depreciation expense-store equipment Miscellaneous selling expense 149,700 36,600 Office salaries expense 668,600 99,800 56,200 Rent expense Depreciation expense office equipment Insurance expense 38,600 32,700 Office supplies expense Check My Work 2 more Check My Work uses remaining. eBook Calculator Print Item Multiple-step Income statement and balance sheet Instructions Labels and Amount Descriptions Income Statement Statement of Stockholders' Equity Instructions Office supplies expense Miscellaneous administrative expense 32,700 7,900 Interest expense 21,700 Required: 1. Prepare a multiple-step income statement. Be sure to complete the statement heading. Refer to the problem data and the list of Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. A colon () will automatically appear it is required. For those boxes in which you must enter subtracted or negative numbers use a minus sign 2. Prepare a statement of stockholders' equity. Additional common stock of $75,000 was issued during the year ended May 31, 2012. Refer to the Mist of Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtracted or negative numbers use a minus sign 3. Prepare a balance sheet, assuming that the current portion of the note payable is $42,000. Be sure to complete the statement heading. Refer to the problem data and the ist of Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. A colon () will automatically appear if it is required. For those boxes in which you must enter subtracted or negative numbers use a munus sign. 4. Briefly explain how multiple-step and single-stop income statements differ. Check My Work 2 more Check My Work uses remaining. Multiple-step income statement and balance sheet Instructions Labels and Amount Descriptions Income Statement Statement of Stockholders' Equity Income Statement 1. Prepare a multiple-step income statement. Be sure to complete the statement heading. Refer to the problem data and the list of Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. A colon () will automatically appear it is required. For those boxes in which you must enter subtracted or negative numbers use a minus sign Claremont Co. Income Statement (Label) 1 2 3 * Label) (Label) 5 1 Check My Work 2 more Check My Work uses remaining, Previous All work saved Multiple-step Income statement and balance sheet Instructions Labels and Amount Descriptions Income Statement Statement of Stockholders' Equity Income Statement Statement of Stockholders' Equity 2. Prepare a statement of stockholders' equily. Additional common stock of $75,000 was issued during the year ended May 31, 2012. Refer to the ast of Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtracted or negatve numbers use a minus sign Clairemont Co. Statement of Stockholders' Equity (Label) Common Stock Retained Earnings Total Previous Check My Work 2 more Check My Work uses remaining All work saved Save and it Submit Assignment for Grading 5124 000 Income Statement Statement of Stockholders' Equity Balance Sheet 3. Prepare a balance sheet, assuming that the current portion of the note payable is $12,000. Be sure to complete the statement heading Refer to the problem data and the Ast of Label and Amount Descriptions provided for the exact wording of the answer choices for text entries. A colon () will automatically appear if it is required. For those boxes in which you must enter subtracted or negative numbers use a minus sign Claremont Co. Balance Sheet (Label) 1 Assets 1 (Label) 3 Check My Work 2 more Check My Work uses remaining Previous All work saved Save and Exit Submit Assignment for Gradin Instructions Labels and Amount Descriptions Income Statement Statement of Stockholders' Income Statement Statement of Stockholders' Equity Balance Sheet Final Question 3. to complete the statement he La Briefly explain how multiple-step and single-step income statements differ. A colon ( will automatically a md Which type of income statement shows intermediate balances? Single-step O Multiple-step 5 Check My Work 2 more Check My Work uses remaining