F21 A ABC E F G H I J K CLAIREMONT CO. Income Statement $ 11,343,000 $ 7,850,000 Sales Expenses: Cost of merchandise sold Selling expenses Administrative expenses Interest expense Total expenses Net income 21,000 Closing Entries 2019 May 31 PR 6-6A Single-step income statement OBJ. 3 Selected accounts and related amounts for Clairemont Co. for the fiscal year ended May 31, 2019, are presented in Problem 6-5A. Instructions 1. Prepare a single-step income statement in the format shown in Exhibit 12. 2. Prepare closing entries as of May 31, 2019. F21 A ABC E F G H I J K CLAIREMONT CO. Income Statement $ 11,343,000 $ 7,850,000 Sales Expenses: Cost of merchandise sold Selling expenses Administrative expenses Interest expense Total expenses Net income 21,000 Closing Entries 2019 May 31 PR 6-6A Single-step income statement OBJ. 3 Selected accounts and related amounts for Clairemont Co. for the fiscal year ended May 31, 2019, are presented in Problem 6-5A. Instructions 1. Prepare a single-step income statement in the format shown in Exhibit 12. 2. Prepare closing entries as of May 31, 2019