Instructions X The following selected accounts and their current balances appear in the ledger of Druid Hills Co. for the fiscal year ended May 31, 2048: Cash $238,400 Accounts Receivable 965,200 Merchandise Inventory 1,771,300 Office Supplies 21,700 Prepaid Insurance 6,900 Office Equipment 839,300 Accumulated Depreciation Office Equipment 541,200 Store Equipment 3,594,100 Accumulated Depreciation-Store Equipment 1,821,000 Accounts Payable 362,900 Customer Refunds Payable 48,500 Salaries Payable 40,700 Note Payable* 318,000 Kristina Marble, Capital 3,393,100 Kristina Marble, Drawing 100,000 Sales 11,417,000 Sales 11,417,000 Cost of Merchandise Sold 7,843,800 Sales Salaries Expense 921,600 Advertising Expense 557,600 Depreciation Expense-Store Equipment 141,900 Miscellaneous Selling Expense 46,400 Office Salaries Expense 643,900 Rent Expense 99,000 Depreciation Expense-Office Equipment 49,000 Insurance Expense 46,900 Office Supplies Expense 24,900 Miscellaneous Administrative Expense 11,600 Interest Expense 18,900 *final payment due in 10 years Required: 1. Prepare a multiple-step income statement. 2. Prepare a statement of owner's equity.* Miscellaneous Selling Expense 46,400 Office Salaries Expense 643,900 Rent Expense 99,000 Depreciation Expense-Office Equipment 49,000 Insurance Expense 46,900 Office Supplies Expense 24,900 Miscellaneous Administrative Expense 11,600 Interest Expense 18,900 *final payment due in 10 years Required: 1. Prepare a multiple-step income statement.* 2. Prepare a statement of owner's equity.* 3. Prepare a balance sheet, assuming that the current portion of the note payable is $49,900.* 4. How multiple-step and single-step income statements differ. *Be sure to read the instructions for each financial statement carefully