hello! I need to answer this problem!! thanks, have a good night.

2 Chapter 5 Accounting for OB. PR 5-SB Multiple-step income statement and report form of balance sheet Net income: The following selected accounts and their current balances appear in the ledger of Kanpur 10,000 Co. for the fiscal year ended June 30, 2014 $9,175.000 Cash $ 92,000 Sales 160,000 Accounts Receivable 450.000 Sales Returns and Allowances 90,000 Merchandise Inventory 375,000 Sales Discounts Office Supplies 5.620,000 10,000 Cost of Merchandise Sold Prepaid Insurance 850,000 12,000 Sales Salaries Expense Office Equipment 420,000 220,000 Advertising Expense Accumulated Depreciation- Depreciation Expense- Office Equipment 33,000 58,000 Store Equipment Store Equipment 650,000 Miscellaneous Selling Expense 18,000 Accumulated Depreciation- Office Salaries Expense 540,000 Store Equipment 87,500 Rent Expense 48,000 Accounts Payable 48,500 Insurance Expense 24,000 Salaries Payable 4,000 Depreciation Expense- Note Payable Office Equipment 10,000 (final payment due 2032) 140,000 Office Supplies Expense 4,000 Capital Stock 50,000 Miscellaneous Administrative Exp. 6,000 Retained Earnings 381,000 Interest Expense 12,000 Dividends 300,000 V2 $1 Instructions 1. Prepare a multiple-step income statement, 2. Prepare a retained earnings statement. 3. Prepare a report form of balance sheet, assuming that the current portion of the note payable is $7.000. 1. Briefly explain (a) how multiple-step and single-step income statements differ and (b) how report form and account form balance sheets differ