Multiple-Step Income Statement and Report Form of Balance Sheet The following selected accounts and their current balances appear in the ledger of Kanpur Co. for the fiscal year ended June 30, 2019: Cash $111,500 Gerri Faber, Drawing $66,800 Accounts Receivable 297,400 Sales 4,032,100 Merchandise Inventory 339,000 Cost of Merchandise Sold 2,362,800 Estimated Returns Inventory 13,400 Sales Salaries Expense 664,400 Office Supplies 182,700 10,500 Advertising Expense 8,100 Depreciation Expense-Store Equipment Prepaid Insurance 35,600 Office Equipment 245,400 Miscellaneous Selling Expense 15,600 Accumulated Depreciation - Office Equipment 166,800 Office Salaries Expense 362,700 Store Equipment 766,100 Rent Expense 53,600 Accumulated Depreciation-Store Equipment 245,400 Insurance Expense 16,600 Accounts Payable 169,800 Depreciation Expense-Office Equipment 26,800 Customer Refunds Payable 26,800 9,800 Office Supplies Expense Miscellaneous Administrative Exp. Salaries Payable 10,800 7,100 Note Payable (final payment due 2032) 357,500 Interest Expense 10,800 Gerri Faber, Capital 597,500 Required: 1. Prepare a multiple-step income statement. Kanpur Co. Income Statement For the Year Ended June 30, 2019 $ Expenses: Selling expenses: $ Total selling expenses Administrative expenses: $ Total administrative expenses Total operating expenses $ 2. Prepare a statement of owner's equity. Kanpur Co. Statement of Owner's Equity For the Year Ended June 30, 2019 $ $ 3. Prepare a balance sheet, assuming that the current portion of the note payable is $14,300. Kanpur Co. Balance Sheet June 30, 2019 Assets Current assets: $ $ Total current assets Property, plant, and equipment: $ $ S Total property, plant, and equipment Total assets Liabilities Current liabilities: $ Total current liabilities