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 $108,400 Gerri Faber, Drawing $64,900 Accounts Receivable 294,300 Sales 3,920,300 Merchandise Inventory 329,600 Cost of Merchandise Sold 2,297,300 Estimated Returns Inventory 13,000 Sales Salaries Expense 646,000 Office Supplies 10,200 Advertising Expense 177,700 Prepaid Insurance 7,900 Depreciation Expense-Store Equipment 34,600 Office Equipment 238,600 Miscellaneous Selling Expense 15,200 Accumulated Depreciation-Office Equipment 162,200 Office Salaries Expense 352,700 52,100 Store Equipment 744,900 Rent Expense Accumulated Depreciation-Store Equipment 238,600 Insurance Expense 16,200 Accounts Payable 165,100 Depreciation Expense-Office Equipment 26,000 Customer Refunds Payable 26,000 Office Supplies Expense 9,600 Salaries Payable 10,500 Miscellaneous Administrative Exp. 6,900 Note Payable (final payment due 2032) 347,500 Interest Expense 10,500 Gerri Faber, Capital 586,400 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 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 $13,900. Kanpur Co. Balance Sheet June 30, 2019 Assets Assets Current assets: Total current assets Property, plant, and equipment: $ Total property, plant, and equipment Total assets Liabilities Current liabilities