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 Accounts receivable Inventory $245,100 971,100 1,786,300 22,200 22,100 Estimated returns inventory Office supplies 7,600 Prepaid insurance Office equipment Accumulated depreciation office equipment 839,400 548 200 Store equipment 3,607,700 Dccumulated docciation strument 1 816.80 Check My Work 2 more Check My Work uses remaining All work saved Em ORA News Chrome Web Store culator ultiple-step income statement and balance sheet Instructions Labels and Amount Descriptions Income Statement Statement of Stockhoiders' Equity Instructions The following selected accounts and their current balances appear in the ledger of Clairemont Co. for the fiscal year ended May 31, 2072. Cash Accounts receivable $245, 100 971,100 1,786,300 Inventory 22 200 Estimated returns inventory Office Supplies Prepaid insurance Office equipment Accumulated depreciation office equipment Store equipment Accumulated depreciation store equipment Accounts payable Customer refunds payable Salnes payable 22,100 7,600 839,400 548,200 3.507,700 1,816,600 365.000 33,200 42,500 Check My Week 2 more Check My Work uses rema All work saved o RE E lculator Multiple-step income statement and balance sheet Income Statement Instructions Labels and Amount Descriptions Instructions 42,500 Salaries payable Note payable (final payment due in 6 years) 299,000 496,400 Common stock Retained earnings 3,140,600 98,800 Dividends Sales Cost of goods sold Sales salaries expense Advertising expense Depreciation expense-store equipment Miscellaneous selling expense 11,256,200 7,856,100 907,500 547,800 144,800 31,700 664,600 Office salaries expense 84,400 Rent expense 53,800 Depreciation expense-office equipment Insurance expense 56,200 Check My Work 2 more Check My Work uses remaining All work saved. o nent/assignmentOverview.do te News Chrome Web Store lculator ultiple step income statement and balance sheet Instructions Labels and Amount Descriptions Income Statement Statement of Stockholders' Equity Instructions Insurance expense 56,200 24,100 Office Supplies expense Miscellaneous administrative expense Interest expense 14,900 12400 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 Amount Descriptions provided for the exact wording of the answer choices for text entries. A colon () will automatically appear it is req 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 list of Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. For those bones in which you enter subtracted or negative numbers use a minus sign 3. Prepare a balance sheet, assuming that the current portion of the note payable is 558.000 Be sure to complete the statement heading Re to the problem data and the list of Labels and Amount Descriptions provided for the exact wording of the answer choices for teatenties A colon () will automatically appear if it is required for those boxes in which you must enter subtracted or negative numbers use a 4. Briefly explain how multiple step and single-step income statements differ Check My Work 2 more Check My Works remaining Em All work saved o TI 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 Accounts receivable Inventory $245,100 971,100 1,786,300 22,200 22,100 Estimated returns inventory Office supplies 7,600 Prepaid insurance Office equipment Accumulated depreciation office equipment 839,400 548 200 Store equipment 3,607,700 Dccumulated docciation strument 1 816.80 Check My Work 2 more Check My Work uses remaining All work saved Em ORA News Chrome Web Store culator ultiple-step income statement and balance sheet Instructions Labels and Amount Descriptions Income Statement Statement of Stockhoiders' Equity Instructions The following selected accounts and their current balances appear in the ledger of Clairemont Co. for the fiscal year ended May 31, 2072. Cash Accounts receivable $245, 100 971,100 1,786,300 Inventory 22 200 Estimated returns inventory Office Supplies Prepaid insurance Office equipment Accumulated depreciation office equipment Store equipment Accumulated depreciation store equipment Accounts payable Customer refunds payable Salnes payable 22,100 7,600 839,400 548,200 3.507,700 1,816,600 365.000 33,200 42,500 Check My Week 2 more Check My Work uses rema All work saved o RE E lculator Multiple-step income statement and balance sheet Income Statement Instructions Labels and Amount Descriptions Instructions 42,500 Salaries payable Note payable (final payment due in 6 years) 299,000 496,400 Common stock Retained earnings 3,140,600 98,800 Dividends Sales Cost of goods sold Sales salaries expense Advertising expense Depreciation expense-store equipment Miscellaneous selling expense 11,256,200 7,856,100 907,500 547,800 144,800 31,700 664,600 Office salaries expense 84,400 Rent expense 53,800 Depreciation expense-office equipment Insurance expense 56,200 Check My Work 2 more Check My Work uses remaining All work saved. o nent/assignmentOverview.do te News Chrome Web Store lculator ultiple step income statement and balance sheet Instructions Labels and Amount Descriptions Income Statement Statement of Stockholders' Equity Instructions Insurance expense 56,200 24,100 Office Supplies expense Miscellaneous administrative expense Interest expense 14,900 12400 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 Amount Descriptions provided for the exact wording of the answer choices for text entries. A colon () will automatically appear it is req 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 list of Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. For those bones in which you enter subtracted or negative numbers use a minus sign 3. Prepare a balance sheet, assuming that the current portion of the note payable is 558.000 Be sure to complete the statement heading Re to the problem data and the list of Labels and Amount Descriptions provided for the exact wording of the answer choices for teatenties A colon () will automatically appear if it is required for those boxes in which you must enter subtracted or negative numbers use a 4. Briefly explain how multiple step and single-step income statements differ Check My Work 2 more Check My Works remaining Em All work saved o TI