> 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, 20Y7: Cash Accounts Receivable Inventory Estimated Returns Inventory Office Supplies Prepaid Insurance Office Equipment Accumulated Depreciation-Office Equipment Store Equipment Accumulated Depreciation-Store Equipment Accounts Payable Salaries Payable Customer Refunds Payable Estimated Coupons Payable Note Payable (final payment due in 20 years) Maya Kanpur, Capital Maya Kanpur, Drawing Sales Cost of Goods Sold Sales Salaries Expense Advertising Expense Depreciation Expense-Store Equipment Miscellaneous Selling Expense Office Salaries Expense Rent Expense Insurance Expense Depreciation Expense-Office Equipment Office Supplies Expense Miscellaneous Administrative Expense Interest Expense Required: 1. Prepare a multiple-step income statement. $92,000 450,000 370,000 5,000 10,000 12,000 220,000 58,000 650,000 87,500 35,500 4,000 10,000 3,000 140,000 431,000 300,000 8,925,000 5,620,000 850,000 420,000 33,000 18,000 540,000 48,000 24,000 10,000 4,000 6,000 12,000 Kanpur Co. Income Statement For the Year Ended June 30, 20Y7

Kanpur Co. Income Statement For the Year Ended June 30, 20r7 Expenses: Selling expenses: Total selling expenses Administrative expenses: Total administrative expenses Total operating expenses 2. Prepare a statement of owner's equity. Maya Kanpur invested an addational $7,500 in the business during the year ended June 30, 20v7. Kanpur Co. Statement of Owner's Equity For the Year Ended June 30, 20%7 Muitiple-steg income statement and balsnce sheet The following seiected accounts and their current balances appear in the ledger of Kanpur Co. for the fiscal year ended June 30,20n : KANPUR CO. batance sheet June 30, 20Y7 Assets Current assets: otal current assets Property, plant, and equipment: Total property, plant, and equipment. Total assets: s Total current slabilities Long-term liabilities: Liabilities Current lisbilities: Total flabilities Owner's equity Tocal liabilities and owner's equity 4. Which type of income statement shows intermediate bafances