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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
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 $125,800 Retained Earnings $554,600 Accounts Receivable 341,500 Dividends 75,400 Inventory 382,500 Sales 4,609,100 Estimated Returns Inventory 5,000 Cost of Goods Sold 2,666,000 Office Supplies 11,900 Sales Salaries Expense 749,700 Prepaid Insurance 9,200 Advertising Expense 206,200 Depreciation Expense- Office Equipment 276,900 Store Equipment 40,200 Accumulated Depreciation- Miscellaneous Selling Expense 17,600 Office Equipment 188,200 Store Equipment 864,400 Office Salaries Expense 409,300 Accumulated Depreciation- Rent Expense 60,400 Store Equipment 276,900 Depreciation Expense- Accounts Payable 191,600 Office Equipment 30,200 Customer Refunds Payable 10,000 Insurance Expense 18,700 Salaries Payable 12,200 Office Supplies Expense 11,100 Note Payable Miscellaneous Administrative Exp. 8,000 (final payment due 2024) 402,500 Common Stock 77,100 Interest Expense 12,200 Required:
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