eBook Calculator Print Item Multiple-Step Income Statement and Report Form of Balance Sheet The following selected accounts and their current balances appear in the ledger of Clairemont Co. for the fiscal year ended May 31, 2018: Cash $115,000 Retained Earnings 506,600 Accounts Receivable 312,000 Dividends 68,800 Inventory 349,400 Sales $4,210,300 Estimated Returns Inventory 22,500 Cost of Goods Sold 2,435,300 Office Supplies 10,800 Sales Salaries Expense 684,800 Prepaid Insurance 8,400 Advertising Expense 188,300 Depreciation Expense- Office Equipment 253,000 Store Equipment 36,700 Accumulated Depreciation- Miscellaneous Selling Expense 16,100 Office Equipment 171,900 Store Equipment 789,600 Office Salaries Expense 373,900 Accumulated Depreciation- Rent Expense 55,200 Store Equipment 253,000 Accounts Payable Depreciation Expense 175,000 Office Equipment 27,000 Customer Refunds Payable 40,000 Insurance Expense 17,100 Salaries Payable 11,200 Office Supplies Expense 10,100 Note Payable Miscellaneous Administrative Exp. 7,300 (final payment due 2024) 367,500 Common Stock 57,600 Interest Expense 11,200 Check My Work 4 more Check My Work uses remaining, Clairemont Co. Income Statement For the Year Ended May 31, 2018 Expenses: Selling expenses: Total selling expenses Administrative expenses: Total administrative expenses 2. Prepare a retained earnings statement. Clairemont Co. Retained Earnings Statement For the Year Ended May 31, 2018 S 3. Prepare a balance sheet, assuming that the current portion of the note payable is $18,375. Claremont Co. Balance Sheet May 31, 2018 Assets Current assets: 3. Prepare a balance sheet, assuming that the current portion of the note payable is $18,375. Clairemont Co. Balance Sheet May 31, 2018 Assets Current assets: Total current assets Property, plant and equipment: $ Total property, plant and equipment Total assets Liabilities LILI Total property, plant and equipment Total assets Llabilities Current liabilities: $ Total current liabilities Long-term liabilities: