Inventory Multiple-step income statement and balance sheet The following selected accounts and their current balances appear in the ledger of Kanpur Co. for the fiscal year ended June 30, 2017: Cash Accounts Receivable $126,300 Retained Earnings 342,800 Dividends 383,900 Sales $556,700 75,600 4,626,000 Estimated Returns Inventory 5,000 Cost of Goods Sold 2,675,800 Office Supplies 11,900 Sales Salaries Expense 752,400 Prepaid Insurance 9,200 Advertising Expense 206,900 Office Equipment Accumulated Depreciation-Office Equipment 188,900 Miscellaneous Selling Expense 277,900 Depreciation Expense-Store Equipment 40,300 17,700 Store Equipment 867,600 Office Salaries Expense 410,800 Accumulated Depreciation-Store Equipment 277,900 Rent Expense 60,700 Accounts Payable 189,300 Insurance Expense 18,800 Salaries Payable Customer Refunds Payable 12,300 Depreciation Expense-Office Equipment 10,000 Office Supplies Expense 30,300 11,100 3,000 Miscellaneous Administrative Expense 8,100 12,300 Estimated Coupons Payable Note Payable (final payment due in 20 years) 405,000 Interest Expense Common Stock Required: 1. Prepare a multiple-step income statement. 76,300 Expenses: Selling expenses: Total selling expenses Administrative expenses: Total administrative expenses Total operating expenses Kanpur Co. Income Statement For the Year Ended June 30, 2017 2. Prepare a statement of stockholders' equity. Additional common stock of $7,500 was issued during the year ended June 30, 2017. Kanpur Co. Statement of Stockholders' Equity For the Year Ended June 30, 2017 Common Stock Retained Earnings Total Current assets: Total current assets Property, plant, and equipment: Total property, plant, and equipment Total assets Current liabilities: Total current liabilities Long-term liabilities: Total liabilities Total stockholders' equity Total liabilities and stockholders' equity KANPUR CO. Balance Sheet June 30, 2017 Assets Liabilities Stockholders' equity