Multiple-Step Income Statement and Report Form of Balance Sheet The following selected accounts and their current balances appear in the ledger of Claremont Co, for the fiscal year ended May 31, 2018: Cash $110,300 Retained Earnings 486,200 Accounts Receivable 299,400 Dividends 66,100 Inventory 335,300 Sales $4,040,400 Estimated Returns Inventory 22,500 Cost of Goods Sold 2,337,000 Office Supplies 10,400 Sales Salarles Expense 657,200 Prepaid Insurance 8,000 Advertising Expense 180,700 Depreciation Expense- Office Equipment 242,800 Store Equipment 35,200 Accumulated Depreciation- 15,400 Miscellaneous Selling Expense 165,000 Office Equipment Store Equipment 757,800 Office Salaries Expense 358,800 Accumulated Depreciation Rent Expense 53,000 Store Equipment 242,800 Depreciation Expense- Accounts Payable 168,000 Office Equipment 26,500 Customer Refunds Payable 40,000 Insurance Expense 16,400 Salaries Payable 10,700 Office Supplies Expense 9,700 Note Payable Miscellaneous Administrative Exp. 7,000 (final payment due 2024) 352,500 Common Stock 54,600 Interest Expense 10,700 1. Prepare a multiple-step income statement. Claremont Co. Income Statement For the Year Ended May 31, 2018 Expenses: Selling expenses: $ Total selling expenses Administrative expenses: Total administrative expenses Total operating expenses 2. Prepare a retained earnings statement. Clairemont Co. Retained Earnings Statement For the Year Ended May 31, 2018 $ 3. Prepare a balance sheet, assuming that the current portion of the note payable is $17,625. Dairmont Co Balance Sheet May 31 2018 Assets Current assets: $ Total current assets Property, plant and equipment: S Total property, plant and equipment Total assets Total assets Labilities Current liabilities: Total current liabilities Long-term liabilities: Total liabilities Stockholders' equity Total stockholders' equity Total liabilities and stockholders' equity S 4. a. Which type of income statement shows intermediate balances