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 $129,500 Retained Earnings $570,700 Accounts Receivable 345,300 Dividends 77,500 Inventory 393,600 Sales 4,742,900 Estimated Returns Inventory 5,000 Cost of Goods Sold 2,743,400 Office Supplies 12,200 Sales Salaries Expense 771,500 Prepaid Insurance 9,400 Advertising Expense 212,200 Depreciation Expense- Office Equipment 285,000 Store Equipment 41,300 Accumulated Depreciation- Miscellaneous Selling Expense 18,100 Office Equipment 193,700 Store Equipment 889,500 Office Salaries Expense 421,200 Accumulated Depreciation- Store Equipment Rent Expense 62,200 285,000 Depreciation Expense- Accounts Payable 197,200 Office Equipment 31,100 Customer Refunds Payable 10,000 Insurance Expense 19,300 Salaries Payable Office Supplies Expense 12,600 11,400 Note Payable Miscellaneous Administrative Exp. 8,300 (final payment due 2024) 415,000 Common Stock 72,500 Interest Expense 12,600 Required: 1. Prepare a multiple-step income statement. Kanpur Co. Income Statement For the Year Ended June 30, 20Y7 Expenses: Selling expenses: Total selling expenses 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 3. Prepare a balance sheet, assuming that the current portion of the note payable is $20,750. 3. Prepare a balance sheet, assuming that the current portion of the note payable is $20,750. KANPUR CO. Balance Sheet June 30, 20Y7 Assets Current assets: Total current assets Property, plant, and equipment: Chp 5 Makeup Hmwk Calculator eBook Total property, plant, and equipment Total assets Liabilities Current liabilities: Total current liabilities Long-term liabilities: Total liabilities Stockholders' equity akeup Hmwk Calculator eBook rent liabilities: otal current liabilities Long-term liabilities: Total liabilities Stockholders' equity Total stockholders' equity Total liabilities and stockholders' equity 4. Which type of income statement shows intermediate balances