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 $114,700 Retained Earnings $505,600 Accounts Receivable 311,300 Dividends 68,700 Inventory 348,700 Sales 4,201,800 Estimated Returns Inventory 5,000 Cost of Goods Sold 2,430,400 Office Supplies 10,800 Sales Salaries Expense 683,500 Prepaid Insurance 8,400 Advertising Expense 187,900 Office Equipment 252,500 Depreciation Expense Store Equipment 36,600 Accumulated Depreciation Office Equipment 171,600 Miscellaneous Selling Expense 16,000 Store Equipment 788,100 Office Salaries Expense 373,100 Accumulated Depreciation Store Equipment 252,500 Rent Expense 55,100 Accounts Payable 174,700 Depreciation Expense Office Equipment 27,500 Customer Refunds Payable 10,000 Insurance Expense 17,100 Salaries Payable 11,200 Office Supplies Expense 10,100 Note Payable (final payment due 2024) 367,500 Miscellaneous Administrative Exp. 7,300 Common Stock 69,100 Interest Expense 11,200 Required: 1. Prepare a multiple-step income statement. Kanpur Co. Income Statement For the Year Ended June 30, 20Y7 $fill in the blank 2 fill in the blank 4 $fill in the blank 6 Expenses: Selling expenses: $fill in the blank 8 fill in the blank 10 fill in the blank 12 fill in the blank 14 Total selling expenses $fill in the blank 15 Administrative expenses: $fill in the blank 17 fill in the blank 19 fill in the blank 21 fill in the blank 23 fill in the blank 25 fill in the blank 27 Total administrative expenses fill in the blank 28 Total operating expenses fill in the blank 29 $fill in the blank 31 fill in the blank 34 $fill in the blank 36 2. Prepare a statement of stockholders equity. Additional common stock of $7,500 was issued during the year ended June 30, 20Y7. Kanpur Co. Statement of Stockholders Equity For the Year Ended June 30, 20Y7 Common Stock Retained Earnings Total $fill in the blank 38 $fill in the blank 39 $fill in the blank 40 fill in the blank 42 fill in the blank 43 fill in the blank 45 fill in the blank 46 fill in the blank 48 fill in the blank 49 $fill in the blank 51 $fill in the blank 52 $fill in the blank 53 3. Prepare a balance sheet, assuming that the current portion of the note payable is $18,375. KANPUR CO. Balance Sheet June 30, 20Y7 Assets Current assets: $fill in the blank 55 fill in the blank 57 fill in the blank 59 fill in the blank 61 fill in the blank 63 fill in the blank 65 Total current assets $fill in the blank 66 Property, plant, and equipment: $fill in the blank 68 fill in the blank 70 $fill in the blank 72 $fill in the blank 74 fill in the blank 76 fill in the blank 78 Total property, plant, and equipment fill in the blank 79 Total assets $fill in the blank 80 Liabilities Current liabilities: $fill in the blank 82 fill in the blank 84 fill in the blank 86 fill in the blank 88 Total current liabilities $fill in the blank 89 Long-term liabilities: fill in the blank 91 Total liabilities $fill in the blank 92 Stockholders' equity $fill in the blank 94 fill in the blank 96 Total stockholders' equity fill in the blank 97 Total liabilities and stockholders' equity $fill in the blank 98 4. Which type of income statement shows intermediate balances?