multiple step income statement and balance sheet.

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 $109,700 Retained Earnings $483,400 Accounts Receivable 297,700 Dividends 65,700 Inventory 333,400 Sales 4,017,500 Estimated Returns Inventory 5,000 Cost of Goods Sold 2,323,800 Office Supplies 10,300 Sales Salaries Expense 653,500 Prepaid Insurance 8,000 Advertising Expense 179,700 Depreciation Expense Office Equipment 241,400 Store Equipment 35,000 Accumulated Depreciation- Miscellaneous Selling Expense 15,300 Office Equipment 164,000 Store Equipment 753,500 Office Salaries Expense 356,700 Accumulated Depreciation- Rent Expense 52,700 Store Equipment 241,400 Depreciation Expense Accounts Payable 167,000 Office Equipment 26,300 Customer Refunds Payable 10,000 Insurance Expense 16,300 Salarios Payable 10,700 Office Supplies Expense 9,700 Note Payable Miscellaneous Administrative Exp. 7,000 (final payment due 2024) 350,000 Common Stock 67,400 Interest Expense 1,700 Required: Previous Required: 1. Prepare a multiple-step income statement. Kanpur Ca. Income Statement For the Year Ended June 30, 2017 Sales Cost of goods sold Gross profit Expenses: Selling expenses: Sales salaries expense Advertising expense Depreciation expense-store equipment Miscellaneous selling expense Total selling expenses Administrative expenses Office salaries expense Rent expense Previous Email Instructor Sub All work saved Rent expense Insurance expense Depreciation expense-office equipment Office supplies expense Miscellaneous administrative expense Total administrative expenses Total operating expenses Operating income Other revenue and expenses Interest expense Net Income 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 Balances, July 12016 Net income All work saved Email Inst 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 Balances July 1, 2016 Net income Dividends Balances June 30, 2022 Balonces, June 30, 2017 3. Prepare a balance sheet, assuming that the current portion of the note payable is $17.500. KANPUR CO. Balance Sheet June 30, 2012 Assets Current assets: Cash Accounts receivable Inventory Estimated returns inventory Previous Email Instructor Submit Tes All work saved Inventory Estimated returns inventory Office supplies Prepaid insurance Total current assets Property, plant, and equipment: Office equipment Accumulated depreciation office equipment Book value office equipment Store equipment Accumulated deprecation-store equipment Book value-store equipment Total property, plant, and equipment Total assets Babilities Current abilities Accounts payable Salaries payable Customer refunds payable Note payable (current portion Total current liabilities Previous Email Instructor Submit All work saved Total property, plant, and equipment Total assets Liabilities Current liabilities: Accounts payable Salaries payable Customer refunds payable Note payable (current portion) Total current liabilities Long-term liabilities: Note payable long term portion Total liabilities Stockholders' equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 4. Which type of income statement shows intermediate balances? Multiple-step Previous Nex Emainstructor Submit Test for G