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 Inventory $113,000 Retained Earnings 306,800 Dividends 343,600 Sales $498,200 67,700 4,140,400 Estimated Returns Inventory 5,000 Cost of Goods Sold 2,394,900 Office Supplies 10,700 Sales Salaries Expense 673,500 Prepaid Insurance Office Equipment 8,200 Advertising Expense 185,200 248,800 Depreciation Expense-Store Equipment 36,100 Accumulated Depreciation-Office Equipment 169,100 Miscellaneous Selling Expense Store Equipment Accumulated Depreciation-Store Equipment 248,800 Rent Expense 15,800 776,500 Office Salaries Expense 367,700 54,300 Accounts Payable 169,100 Insurance Expense 16,800 Salaries Payable Customer Refunds Payable Estimated Coupons Payable 11,000 Depreciation Expense-Office Equipment 10,000 Office Supplies Expense 27,100 10,000 3,000 Miscellaneous Administrative Expense 7,200 11,000 Note Payable (final payment due in 20 years) 362,500 Interest Expense Common Stock Required: 67,800 1. Prepare a multiple-step income statement. Kanpur Co. Income Statement For the Year Ended June 30, 2017 Expenses: Selling expenses: Total selling expenses Administrative expenses: Total administrative expenses Total operating expenses Accounting numeric field 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 3. Prepare a balance sheet, assuming that the current portion of the note payable is $18,125. KANPUR CO. Balance Sheet June 30, 2017 Current assets: Total current assets 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 Liabilities Stockholders' equity 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 Liabilities Stockholders' equity 4. Which type of income statement shows intermediate balances