Multiple-step income statement and balance sheet Instructions Labels and Amount Descriptions Income Statement Statement of Stockholders' Equity 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 $240,000 Accounts receivable 966,000 Inventory 1,600,000 Estimated returns inventory 22,500 Office supples 13,500 Prepaid insurance 8,000 Office equipment 830,000 Accumulated depreciation-office equipment 550,000 Store equipment 3,600,000