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 $129,800 Retained Earnings $571,900 Accounts Receivable 346,000 Dividends 77,700 Inventory 394,400 Sales 4,752,500 2,749,000 Estimated Returns Inventory 5,000 Cost of Goods Sold Office Supplies 773,000 Prepaid Insurance 12,200 Sales Salaries Expense 9,500 Advertising Expense 285,500 Depreciation Expense-Store Equipment 212,600 Office Equipment 41,400 Accumulated Depreciation Office Equipment 194,000 Miscellaneous Selling Expense 18,100 422,000 62,300 Store Equipment 891,300 Office Salaries Expense Accumulated Depreciation-Store Equipment 285,500 Rent Expense Accounts Payable 194,600 Insurance Expense Salaries Payable 12,600 Depreciation Expense-Office Equipment 19,300 31,200 11,400 8,300 Customer Refunds Payable 10,000 Office Supplies Expense Estimated Coupons Payable 3,000 Miscellaneous Administrative Expense Note Payable (final payment due in 20 years) 415,000 Interest Expense Common Stock 73,500 12,600 1. Prepare a multiple-step income statement. Kanpur Co. Income Statement For the Year Ended June 30, 2017 Expenses: Selling expenses: Total selling expenses Administrative expenses: Total administrative expenses Total operating expenses 2. Prepare 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 $20,750. KANPUR CO. Balance Sheet June 30, 2017 Assets Current assets: Total current assets Property, plant, and equipment: Property, plant, and equipment: Total property, plant, and equipment Total assets Liabilities Current liabilities: Total current liabilities Long-term 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