eBook Multiple-step income statement and balance sheet Instructions Labels and Amount Descriptions Income Statement Statement of Stockholders' Equity Balance Sheet Final Quest Instructions The following selected accounts and their current balances appear in the ledger of Clairemont Co. for the fiscal year ended May 31, 2012 Cash $240,000 Accounts receivable 966,000 Inventory 1,690,000 Estimated returns inventory 22,500 Office supplies 13,500 Prepaid insurance 8,000 Office equipment 830,000 Accumulated depreciation-office equipment 550,000 Store equipment 3,600,000 Accumulated depreciation-store equipment 1,820,000 Accounts payable 321,000 Salanes payable 41.500 Customer refunds payable 40,000 Estimated coupons payable 5,000 Note payable (final payment due in 6 years) 300,000 Common stock 500,000 Retained earnings Dividends Sales Cost of goods sold 2.949,100 100,000 11,343,000 7,850,000 Sales salanes expense 916,000 Advertising expense 550,000 Depreciation expense-store equipment 140,000 Miscellaneous selling expense 38,000 Office salanes expense 650,000 Rent expense 94,000 Depreciation expense office equipment 50,000 insurance expense 4000 Office supplies expense 28.100 Miscelaneous administrative expense 14.500 Interest expense 21,000 Remed