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 $108,200 Retained Earnings $476,900 Accounts Receivable 291,100 Dividends 64,800 Inventory 328,900 Sales 3,963,200 Estimated Returns Inventory 5,000 Cost of Goods Sold 2,292,400 Office Supplies 10,200 Sales Salaries Expense 644,600 Prepaid Insurance 7,900 Advertising Expense 177,300 Office Equipment 238,100 Depreciation ExpenseStore Equipment 34,500 Accumulated DepreciationOffice Equipment 161,800 Miscellaneous Selling Expense 15,100 Store Equipment 743,300 Office Salaries Expense 351,900 Accumulated DepreciationStore Equipment 238,100 Rent Expense 52,000 Accounts Payable 161,800 Insurance Expense 16,100 Salaries Payable 10,500 Depreciation ExpenseOffice Equipment 26,000 Customer Refunds Payable 10,000 Office Supplies Expense 9,500 Estimated Coupons Payable 3,000 Miscellaneous Administrative Expense 6,900 Note Payable (final payment due in 20 years) 345,000 Interest Expense 10,500 Common Stock 64,000 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 $17,250. 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 fill in the blank 90 Total current liabilities $fill in the blank 91 Long-term liabilities: fill in the blank 93 Total liabilities $fill in the blank 94 Stockholders' equity $fill in the blank 96 fill in the blank 98 Total stockholders' equity fill in the blank 99 Total liabilities and stockholders' equity $fill in the blank 100 4. Which type of income statement shows intermediate balances?