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, 20Y5:

Cash	$127,600		Gerri Faber, Drawing	$76,400
Accounts Receivable	330,200		Sales	4,613,100
Merchandise Inventory	387,850		Cost of Merchandise Sold	2,703,300
Office Supplies	12,000		Sales Salaries Expense	760,200
Prepaid Insurance	9,300		Advertising Expense	209,100
Office Equipment	280,800		Depreciation ExpenseStore Equipment	40,700
Accumulated DepreciationOffice Equipment	190,800		Miscellaneous Selling Expense	17,800
Store Equipment	876,500		Office Salaries Expense	415,000
Accumulated DepreciationStore Equipment	280,800		Rent Expense	61,300
Accounts Payable	194,300		Insurance Expense	19,000
Customer Refunds Payable	30,600		Depreciation ExpenseOffice Equipment	30,600
Salaries Payable	12,400		Office Supplies Expense	11,200
Note Payable (final payment due in eight years)	407,500		Miscellaneous Administrative Exp.	8,100
Gerri Faber, Capital	659,850		Interest Expense	12,400

Required:

1. Prepare a multiple-step income statement.

2. Prepare a statement of owner's equity.

3. Prepare a balance sheet, assuming that the current portion of the note payable is $16,300.

4. Which type of income statement shows intermediate balances?