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 $127,000 341,600 Inventory 386,000 Estimated Returns Inventory 5,000 Office Supplies 12,000 Prepaid Insurance 9,300 Office Equipment 279,500 Accumulated Depreciation-Office Equipment 189,900 Store Equipment 872,400 Accumulated Depreciation-Store Equipment 279,500 Accounts Payable Salaries Payable Customer Refunds Payable Estimated Coupons Payable 190,400 12,400 10,000 3,000 Note Payable (final payment due in 20 years) 405,000 Common Stock Retained Earnings Dividends 76,100 559,700 76,000 Sales Cost of Goods Sold 4,651,300 2,690,400 756,600 Sales Salaries Expense Advertising Expense 208,100 Depreciation Expense-Store Equipment 40,500 Miscellaneous Selling Expense Office Salaries Expense 17,800 413,000 Rent Expense 61,000 Insurance Expense 18,900 Depreciation Expense-Office Equipment 30,500 Office Supplies Expense 11,200 Miscellaneous Administrative Expense 8,100 Interest Expense 12,400 Required: 1. Prepare a multiple-step income statement. Kanpur Co. Income Statement For the Year Ended June 30, 2017 G Expenses: Selling expenses: Total selling expenses Administrative expenses: Kanpur Co. Income Statement For the Year Ended June 30, 2017 Total administrative expenses Total operating expenses 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 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 $20,250. KANPUR CO. Assets Current assets: Balance Sheet June 30, 2017