Multiple-Step Income Statementand Balance Sheet

The following selected accounts and their current balances appear in the ledger of Kanpur Co. for the fiscal year ended June 30, 20Y5:

Cash$136,200Gerri Faber, Drawing$81,500Accounts Receivable349,300Sales4,923,600Merchandise Inventory413,950Cost of Merchandise Sold2,885,200Office Supplies12,800Sales Salaries Expense811,300Prepaid Insurance9,900Advertising Expense223,100Office Equipment299,700Depreciation ExpenseStore Equipment43,500Accumulated DepreciationOffice Equipment203,700Miscellaneous Selling Expense19,000Store Equipment935,500Office Salaries Expense442,900Accumulated DepreciationStore Equipment299,700Rent Expense65,400Accounts Payable207,400Insurance Expense20,300Customer Refunds Payable32,700Depreciation ExpenseOffice Equipment32,700Salaries Payable13,200Office Supplies Expense12,000Note Payable (final payment due in eight years)435,000Miscellaneous Administrative Exp.8,700Gerri Faber, Capital700,850Interest Expense13,200

Required:

1.do a multiple-step income statement.

Kanpur Co.

Income Statement

For the Year Ended June 30, 20Y5

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$fill in the blank 6

Expenses:Selling expenses:

$fill in the blank 8

fill in the blank 10

fill in the blank 12

fill in the blank 14

Total selling expenses$fill in the blank 15

Administrative expenses:

$fill in the blank 17

fill in the blank 19

fill in the blank 21

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Total administrative expensesfill in the blank 28

Total operating expensesfill in the blank 29

$fill in the blank 31

fill in the blank 34

$fill in the blank 36

2.do a statement of owner's equity.

Kanpur Co.

Statement of Owner's Equity

For the Year Ended June 30, 20Y5

$fill in the blank 38

$fill in the blank 40

fill in the blank 42

fill in the blank 44

$fill in the blank 46

3.do a balance sheet, assuming that the current portion of the note payable is $17,400.

Kanpur Co.

Balance Sheet

June 30, 20Y5AssetsCurrent assets:

$fill in the blank 48

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Total current assets$fill in the blank 57

Property, plant, and equipment:

$fill in the blank 59

fill in the blank 61

$fill in the blank 62

$fill in the blank 64

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Total property, plant, and equipmentfill in the blank 68

Total assets$fill in the blank 69

LiabilitiesCurrent liabilities:

$fill in the blank 71

fill in the blank 73

fill in the blank 75

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Total current liabilities$fill in the blank 78

Long-term liabilities:

fill in the blank 80

Total liabilities$fill in the blank 81

Owner's equity

fill in the blank 83

Total liabilities and owner's equity$fill in the blank 84