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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

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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, 2018 Cash Accounts Receivable Inventory Estimated Returns Inventory Office Supplies Prepaid Insurance Office Equipment Accumulated Depreciation-Office Equipment 58,000 Miscellaneous Selling Expense Store Equipment Accumulated Depreciation-Store Equipment 87,500 Rent Expense Accounts Payable Customers Refunds Payable $92,000 Retained Earnings 450,000 Dividends 370,000 Sales $381,000 300,000 8,925,000 5,000 Cost of Goods Sold 10,000 Sales Salaries Expense 12,000 Advertising Expense 5,620,000 850,000 420,000 220,000 Depreciation Expense-Store Equipment 33,000 18,000 540,000 48,000 24,000 10,000 Depreciation Expense-Office Equipment 10,000 4,000 6,000 650,000 Office Salaries Expense 38,500 Insurance Expense Salaries Payable Note Payable (final payment due 2034)140,000 Common Stock 4,000 Office Supplies Expense Miscellaneous Administrative Exp. 50,000 Interest Expense 12,000 Required: 1. Prepare a multiple-step income statement. 1. Prepare a multiple-step income statement. KANPUR CO Income Statement For the Year Ended June 30, 2018 Expenses: Selling expenses: Total selling expenses Administrative expenses: Total administrative expenses Total operating expenses 2. Prepare a retained earnings statement. KANPUR CO. Retained Earnings Statement For the Year Ended June 30, 2018 3. Prepare a balance sheet, assuming that the current portion of the note payable is $7,000. 3. Prepare a balance sheet, assuming that the current portion of the note payable is $7,000. KANPUR CO. Balance Sheet June 30, 2018 Assets assets: Total current assets Property, plant and equipment Liabilities lia bilit Total current liabilities Long-term liabilities: Total liabilities Stockholders equity Total stockholders' equity Total liabilities and stockholders equity . Which type of income statement shows intermediate balances

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